Highland Gold Mining Ltd.'s attributable net profit in the first half jumped to US$45.4 million, or 12.5 US cents per share, from the year-ago profit of US$28.6 million, or 8.8 cents apiece.
Revenue rose to US$174.7 million from US$146.9 million thanks to production from the Valunisty mine in Russia, which it acquired in December 2018, and increased sales volume at the Mnogovershinnoye mine.
The company's total gold equivalent sales climbed to 142,609 ounces from 121,174 ounces a year ago.
Operating profit increased to US$57.4 million, from US$50.7 million, according to the Sept. 3 release.
Meanwhile, the income tax charge for the period dropped to US$10.4 million, less than half of the year-ago charge of US$21.5 million.
Highland's gold production in the half was up 10.3% year over year to 142,254 ounces. All-in sustaining costs rose 11.7% year over year to US$778 per ounce due to the inclusion of Valunisty and higher maintenance capex for purchases of new equipment.
