By Carlo Martuscelli
Fresnillo PLC (FRES.LN) said Tuesday that it expects trading in 2019 grow more difficult when compared with the prior year.
The precious-metal producer said revenue on an adjusted basis in 2018 totaled $2.2 billion, flat year-on-year. Profit fell, while cash and liquid funds stood at $560.78 million, with debt steady at $201.9 million.
The long-term silver production target of 65 million ounces was not met, said the Mexico-focused miner, commenting that 2018 had been a challenging year.
The company backed its full-year guidance for 2019 despite the previously announced soft production figures for the first quarter.
"Looking ahead, we remain very confident in the long-term outlook for Fresnillo," it said, and added that it is seeing positive results at a number of exploration projects.
Write to Carlo Martuscelli at firstname.lastname@example.org