Deterra Royalties Limited (ASX:DRR) Announces Half-Year Financial Results and Declares Interim Dividend
Financial Performance
Deterra Royalties Limited reported half-year revenue of $112.3 million, a 6% decrease from the previous year. The decline was primarily due to a 22% reduction in iron ore prices, partially offset by record sales volumes at Mining Area C and new revenue from the Trident acquisition.
Dividend Declaration
The company declared a fully franked interim dividend of 9.0 cents per share, representing 74.5% of net profit after tax (NPAT). The dividend is expected to be paid on 25 March 2025 to shareholders of record on 26 February 2025.
Operating Highlights
Mining Area C achieved record sales of 68.7 million wet metric tonnes, generating $103.7 million in revenue. The Trident acquisition contributed an additional $7.9 million in revenue, enhancing the company’s diversified portfolio.
Executive Comments
Julian Andrews, Managing Director and Chief Executive Officer, stated, “We are signing off the half-year to 31 December 2024 with a healthy balance sheet and strong, consistent revenues underpinned by record volumes produced at MAC and new revenue sources from recently acquired gold assets.”
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