StockMarketWire.com - Griffin Mining posts operating profits of $9.2m for the six months to the end of June - up from $7.3m last time.

Revenues of $33.2m were down slightly from $33.7m a year ago but pre-tax profits rose to $7.4m from $5.8m.

Chairman Mladen Ninkov said: "These are very pleasing results with a 26% increase in operating profit and a 35% increase in net profit with no real change in revenues.

"In effect, this means that management has been able to successfully implement real, substantial cuts in costs at Caijiaying with all the benefits that will ensue in the future with the predicted rise in the zinc price.

"Added to these positive results is the further good news of the doubling of our processing capacity in the near future from 750,000 tonnes per annum to 1.5 million tonnes per annum. All these factors point to 2015 being a watershed year for the company."






Story provided by StockMarketWire.com