PROFIT & LOSS

Polymetal disappoints with half year results

FSU-focused gold miner Polymetal delivered a disappointing set of half year results, with earnings coming in below consensus expectations while capex guidance for the year swelled by 25%.

Polymetal's Kyzyl mine in east Kazakhstan

Polymetal's Kyzyl mine in east Kazakhstan

Adjusted EBITDA for H1 was US$660 million, an increase of 8% year-on-year but 15% below consensus, while an interim dividend of $0.45/sh was slightly behind expectations of $0.52/sh. Capex amounted...

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