Centamin Plc on Feb. 1 said net profit attributable to shareholders for 2016 jumped to US$214.8 million from US$51.6 million in 2015.
The company's 2016 output jumped 26% year over year to 551,036 ounces, with sales rising to 546,630 ounces from 437,571 ounces. All-in sustaining costs fell to US$694 per ounce from US$885 per ounce a year earlier.
Revenues were up 35% to US$687.4 million as EBITDA surged 145% on a yearly basis to US$372.9 million thanks to higher gold prices, increased production and lower costs.
The company's average realized gold prices increased to US$1,256 per ounce in 2016, compared to US$1,159 per ounce a year earlier.
At the end of December 2016, the London-listed company was debt-free and unhedged with cash, bullion and equivalents of US$428 million, up 85% year over year.
Centamin proposed a final dividend of 13.5 U.S. cents per share, bringing the full-year payout to 15.5 cents per share, or about US$178 million. The company proposed a final dividend of 1.97 cents per share for a total payout of 2.94 cents per share in 2015.
In 2017, the company forecasts production of 540,000 ounces of gold at its Sukari gold mine in Egypt at all-in sustaining costs of US$790 per ounce.