Kenmare Resources announces share buyback as revenue and profit increases

The company proposes to return up to £23.6 million to shareholders

Michael Carvill, Managing Director of Kenmare Resources

Mozambique focused Kenmare Resources has announced plans for a share buyback after revenues and earnings increased at the company.

Revenue from mineral products was $229.7 million in the first half of this year, a 26 per cent increase year-on-year.

This was due to a 31 per cent increase in shipment volumes supported by the drawdown of finished product stockpiles offsetting a 4 per cent decrease in average realised prices, according to interim results from the ...