Kenmare says first-half operating loss narrows to $24.9 million

The exploration group said the ilmenite market has shown signs of recovery in recent months

24th August, 2016
Kenmare managing director Michael Carvill

The exploration group reported revenue of $56.2 million, down from $73.9 million in the same period last year, due to lower average prices and a reduced value sales mix. Earnings before interest, tax, depreciation and amortisation (EBITDA) were a negative $10.7 million compared to negative $10.6 million in the first half of 2015.

The company, which said total shipments of finished products rose by seven per cent to a new half-yearly record of 441,700 tonnes, said the ilmenite market has...

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