Evolution Minings Strong FY24 Half-Year Performance

Evolution Mining Limited (ASX: EVN) announced robust financial results for the half-year ending December 31, 2023, with a statutory net profit of $97 million and an interim dividend of 2.0 cents per share, fully franked. Key highlights include significant increases across various metrics: a 53% rise in underlying net profit after tax to $158 million, a 28% increase in underlying EBITDA to $573 million, and a 30% surge in operating mine cash flow to $618 million.

Mineral Resources estimate a substantial increase in gold and copper. Evolution's cash position strengthened to $191 million, with a reduced gearing level of 29.7%. The company declared its 22nd consecutive dividend and confirmed a positive outlook. The Annual Mineral Resources and Ore Reserves update also showed considerable growth. Shareholders will benefit from the interim dividend, with payment scheduled for April 5, 2024.

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