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Independence Groupâs net profit after tax increased 210% to $52.7 million in FY18, driven by significant contribution from Nova operation in its first year of commercial production.
Underlying EBITDA grew 125% to $338.6 million for the period ended 30 June 2018 as total revenue and other income increased to $780.6 million, compared to $421.9 million in prior year. This strong growth in revenue is underpinned by Tropicanaâs increased gold production, rise in Australian dollar metal prices, first ever commercial production at Nova and gain on sale proceeds of Jupiter mine.
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As at 30 June 2018, underlying free cash flow increased to $138 million from negative $113 million in FY17, thereby reflecting strong operating cash flow including $93 million contribution from Nova operation.
Final fully franked dividend of 2 cents per share was declared for FY18, bringing total FY18 dividend to 3 cents per share. The final dividend is payable on 27 September 2018 with record date of 14 September 2018.
As per FY19 guidance, Tropicanaâs gold production is expected to range between 500,000-550,000 oz on 100% basis while Novaâs nickel, copper and cobalt production has also been anticipated to grow significantly.
IGO has shown daily positive price change of 0.464% to $4.330 on 29 August 2018 (4:52 PM AEST).
The Income available from dividends remains attractive for many investors.
We take a look at the best yields on the market and assess what they say about a companyâs prospect.
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The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
