Fresnillo Full-Year Net Profit Drops

Fresnillo PLC FNLPF reported a 55% drop in its net profit last year. Fresnillo's net profit for the year slipped to $108.4 million from $240.4 million, while pretax profit declined 40% to $251.1 million from $418.7 million. Its revenue dropped 12% to $1.41 billion, while earnings before interest, taxes, depreciation and amortization declined 22% to $567 million. Gold production slipped 2.4% y/y to 596,000 ounces. For 2018, Fresnillo projects to produce 750,000 troy ounces of gold. The company also expects to produce 65 million ounces of silver. Fresnillo's board declared a final dividend of $0.03 per share.