Kenmare completes expansion but revenue falls sharply

Kenmare Resources said that revenue in 2012 fell to $137.9 million, down from $234.6 million.

12th March, 2014
Kenmare's Moma mine in Mozambique.

Kenmare Resources said that revenue in 2012 fell to $137.9 million, down from $234.6 million. Following a year of major expansion by the company, it also posted a loss after tax of $44.1 million, compared to a $49.5 million profit in the previous year.

Kenmare’s share price fell more than 5 per cent this morning, although Davy Stockbrokers said that the results were “broadly in-line with expectations” and that recent share price movements “look overdone.”

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