Business
Interim results for the six months to 31 Dec 2016
Interim results for the six months to 31 Dec 2016.
About this update from Petra Diamonds Limited
[{"type":"text","content":"\n \nRNS Number : 2204X Petra Diamonds Limited 20 February 2017 \n\n \n \n \n \nThis announcement contains inside information\n \n\n\n\n\n20 February 2017\n\n\nLSE: PDL\n\n\n\n\n \nPetra Diamonds Limited \n(\"Petra\", \"the Company\" or \"the Group\")\n \nInterim results for the six months to 31 December 2016\n \n \nPetra Diamonds Limited announces its interim results (unaudited) for the six months to 31 December 2016 (\"the Period\" or \"H1 FY 2017\" or \"H1\"). \n \nSUMMARY\n \nFinancial \n· Revenue up 48% to US$228.5 million (H1 FY 2016: US$154.0 million).\n· Adjusted EBITDA3 up 80% to US$87.1 million (H1 FY 2016: US$48.5 million).\n· Adjusted net profit after tax5 up 348% to US$28.2 million (H1 FY 2016: US$6.3 million).\n· Net profit after tax: US$35.2 million (H1 FY 2016: US$2.2 million loss).\n· Operating cashflow up 89% to US$86.4 million (H1 FY 2016: US$45.6 million).\n· Basic earnings per share: 5.27 US$ cents (H1 FY 2016: basic loss per share of 0.72 US$ cents).\n· Net debt7 of US$463.6 million (30 June 2016: US$384.8 million); unrestricted cash and bank facilities of US$94.0 million (30 June 2016: US$146.7 million).\n \nOperations \n· Production up 24% to 2,015,087 carats (H1 FY 2016: 1,629,403 carats). \n· Improving ROM grade profiles achieved as a results of accessing undiluted ore: +20% to 54.5 cpht (H1 FY 2016: 45.3 cpht) at Finsch and +34% to 34.5 cpht (H1 FY 2016: 25.7 cpht) at Cullinan.\n· Costs remain well controlled despite inflationary pressures. \n· Capex of US$134.9 million (H1 FY 2016: US$139.8 million) excluding capitalised borrowing costs of US$ 21.5 million (H1 FY 2016: US$11.5 million), in accordance with the roll out of the Group's expansion programmes. \n· Safety: as previously announced, it is with deep regret that the Group experienced five fatalities during H1 FY 2017, despite excellent safety records historically and a leading Lost Time Injury Frequency Rate (\"LTIFR\") of...