Arcon shares rose in early trade today as buyers came in after the mining and exploration company reported a pre-tax profit of €1 million for the six months to the end-June 2004.
This compares with a loss of €4.95 million over the same period last year. At 8.40 a.m. Arcon shares were 3/4 higher at 24-1/2.
The company, which owns the Galmoy zinc and lead mine in Co Kilkenny said its profit had been helped by higher metals prices.
Turnover after deductions increased by 68 per cent from €11 million to €18.4 million as a result of higher sale volumes, stronger commodity prices and lower unit treatment charges.
READ MORE
According to the company EBITDA was €3.4 million, compare with a EBITDA loss of €2 million over the same period in 2003.