Griffin had a pretax profit of
"These are very pleasing results with a 26% increase in operating profit and a 35% increase in net profit with no real change in revenues. In effect, this means that management has been able to successfully implement real, substantial cuts in costs at Caijiaying," said Chairman
Griffin's cost of sales in the six months to
Griffin's production at
Zinc grades were marginally better with recoveries in line with previous years, Griffin said. The company will see "benefits that will ensue in the future with the predicted rise in the zinc price," said Ninkov.
"Added to these positive results is the further good news of the doubling of our processing capacity in the near future," Chairman Ninkov said. "All these factors point to 2015 being a watershed year for the company."
No interim dividend was declared by the company due to its policy of determining annual dividends at the time of the company's full year results.
Griffin's shares were down 0.2% to
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