- Centamin reported Monday pre-tax profits fell by more than quarter as revenue was stifled by lower gold production and sales.

For the 12 months to 31 December, pre-tax profit fell 26% to $152.7m and revenue fell 11% to $603.2m.

The fall in revenue was blamed on an 10% decrease in gold sales to 484,322 ounces as production fell year over year.

Gold production fell 13% to 472,418 ounces and unit cash cost production rose to $624 an ounce $554.

For 2019, the company forecasts higher gold production in a range of 490,000 to 520,000 ounces for 2019, with cash cost of production expected to be between $675-$725 per ounce produced and AISC between US$890-US$950 per ounce sold.

The increase in forecast costs was attributed to increased volumes scheduled to be mined from the open pit.

'Our workforce responded to the operational challenges with dexterity and professionalism and, together with a new team in place, are confident in returning Sukari back to its full potential,' the company said.

Capital expenditure was expected to be of US$118 million for 2019, up from $96.78m.

A final dividend of $0.03, took the full year ordinary dividend to 5.5 cents, up 5.5%.

At 4:06pm: [LON:CEY] Centamin PLC share price was -37.23p at 97.12p

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