Murchison United NL (ASX: MUR) today announced a record full-year net profit after tax of A$18.6m, representing earnings of 33 cents per share.
The result was achieved on sales revenue of A$92.26m generated from the sale of 8,922 tonnes of tin in concentrate at Renison Bell and 2,224 tonnes of copper cathode from the company's interest in the Mount Cuthbert Copper Project.
Managing director Paul Atherley commented: “This is an excellent result with an EBIT of A$23.8m, more than doubling both last year's result of A$11.7m and the forecast A$11m made at the time of acquisition.
"We are now strongly positioned for acquisition growth with a net debt position of zero and sustainable earnings growth from Renison. To this end, we have commenced feasibility studies on the retreatment of tailings at Renison Bell (“Rentails”). The Rentails project is expected to increase production by 50pc.
"We are in the final stages of a competitive tender for a major base metals operation in Europe. We expect to know the outcome in the next quarter and will advise shareholders immediately there is any certainty in this regard.”
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