Evolution Mining (ASX: EVN) expects higher gold production to boost financial performance improve in 2HFY24.

Tue 19 Mar 24, 06:02 AM | Team Kalkine

Image source: Parilov, Shutterstock

Highlights

Australia-based Evolution Mining Limited (ASX: EVN) is a gold mining firm that owns and operates five wholly owned mines. Two mines are located in Queensland, one in New South Wales, one in Western Australia and one in Canada. The company also has an 80% share in Northparkes, located in New South Wales.

In the first half of the financial year 2024 (1HFY24), the company reported a more than 18% YoY increase in revenue to AUD 1,340.20 million, backed by an increase in sold ounces and increased gold price. The period saw 28.33% YoY jump in underlying EBITDA to AUD 572.60 million, backed by topline growth in 1HFY24. Underlying net profit after tax in 1HFY24 increased by 53.35% YoY to AUD 158.10 million.

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