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Central Asia Metals PLC on Wednesday halved its interim dividend as it posted lower revenue and profit. The mining firm focused on Kazakhstan and North Macedonia reported pretax profit of $19.6 million in the six months that ended June 30, down 44% from $34.7 million a year earlier. Shares in Central Asia Metals fell 11% to 154.60 pence on Wednesday morning in London. Revenue was 2.4% lower at $99.5 million from $101.9 million, with the company attributing this to a decline in metals sales volumes. Kounrad copper production reached 6,218 tonnes, down 5.9% from 6,608 tonnes as it reported sales of 5,744 tonnes, down 10%. Central Asia Metals reported Sasa zinc-in-concentrate production of 8,692 tonnes, down 3.6% from 9,014 tonnes. Payable zinc sales were 4.4% lower at 7,338 tonnes. Further, it achieved 12,613 tonnes of Sasa lead-in-concentrate production, down 2.0% from 12,872 tonnes, with payable lead sales of 12,165 tonnes, down 3.0%. The weaker earnings for the trading period were primarily driven by increased costs. Cost of sales rose 14% to $58.6 million from $51.3 million, and administrative expenses increased 24% to $14.3 million from $11.5 million. Central Asia Metals also recorded a foreign exchange loss of $853,000, swinging from a gain of $930,000 a year earlier. The company declared an interim dividend of 4.5 pence per share, down 50% from 9.0p a year earlier. However, Central Asia Metals also reported that it has initiated an up to $10 million buyback programme, running until March 31 next year. Looking ahead, Central Asia Metals said it remains on track to reach its copper production guidance at Kounrad of 13,000-14,000 tonnes. The company also backed its revised guidance for Sasa of zinc-in-concentrate production of 17,000-19,000 tonnes and lead-in-concentrate production of 25,000-27,000 tonnes. ‘I am pleased to report an outstanding safety performance across the group in H1 2025, with zero lost-time injuries,’ said Chief Executive Officer Gavin Ferrar. ‘We remain in a strong financial position, with cash in the bank at the end of June of $47.7 million which has since been boosted by the sale of our shares in New World Resources for $18.7 million and receipt of the related break-fee of $1.6 million,’ continued Ferrar. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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