Centamin holds guidance as H1 profits shine

Gold miner Centamin on Wednesday held annual guidance after a rise in first-half profits.

The company posted revenue generation of $426m from gold sales of 219,353 ounces at an average realised gold price of $1,936 per ounce. Core earnings rose 26% to $193m.

Centamin's main asset, the Sukari Gold Mine in Egypt, produced 220,561 ounces and was on track to meet 2023 guidance, the company said.

It now expects total group gold production of 450,000 to 480,000 ounces per annum targeting the midpoint.

Reporting by Frank Prenesti for Sharecast.com