Business
FY2017 Preliminary Results
FY2017 Preliminary Results.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 9648Q Petra Diamonds Limited 18 September 2017 \n\n \n \n \n \nThis announcement contains inside information\n \n\n\n\n\n18 September 2017\n\n\nLSE: PDL\n\n\n\n\n \nPetra Diamonds Limited \n(\"Petra\", \"the Company\" or \"the Group\")\n \nPreliminary Results Announcement for the Year ended 30 June 2017 (unaudited)\n \nPetra Diamonds Limited announces its preliminary results (unaudited) for the year ended 30 June 2017 (\"the Year\" or \"FY 2017\"). \n \nFinancial Highlights\n· Revenue up 11% to US$477.0 million (FY 2016: US$430.9 million).\n· Adjusted EBITDA3 down 4% to US$157.2 million (FY 2016: US$164.3 million).\n· Adjusted net profit after tax4 down 54% to US$29.0 million (FY 2016: US$63.6 million).\n· Net profit after tax down 69% to US$20.7 million (FY 2016: US$66.8 million).\n· Cash generated from operations down 10% to US$160.2 million (FY 2016: US$177.3 million).\n· Basic EPS: 3.47 US$ cents per share (FY 2016: 10.38 US$ cents per share).\n· Adjusted EPS6: 5.04 US$ cents per share (FY 2016: 9.76 US$ cents per share).\n· Net debt9: US$555.3 million (30 June 2016: US$382.8 million).\n· Financial results for the Year were negatively impacted by the delayed ramp-up of the expansion programmes, rising on-mine cash costs and the stronger Rand versus the Dollar for the Year.\n \nOperational Highlights \n· Production up 8% to 4.0 Mcts (FY 2016: 3.7 Mcts).\n· Capex (excluding capitalised borrowing costs) of US$254.6 million (FY 2016: US$295.8 million), reflecting the declining trend due to the advanced stage of the Group's expansion programmes.\n· Safety: Group LTIFR improved to 0.27 (FY 2016: 0.29), but tragically the Company experienced six fatalities; extensive safety reviews initiated and ongoing.\n· Gross Diamond Resources (inclusive of Reserves) decreased 2% to 304.9 Mcts (30 June 2016: 312.2 Mcts) due to depletion and re-estimation of resources. \n \nCorporate\n· During April 2017, the Group completed the issuance of US$650 million of new 7.25% s...