Tharisa PLC bounces back as strong commodity prices help earnings

() said its growth strategy remains on track after a first half that saw steady improvements in mined and processed tonnes.

Revenue in the six months to the end of March rose 61.2% to US$313.6mln from US$194.6mln the year before. The group said platinum group metals concentrate generated US$193.3mln of sales while US$102.1mln was derived from the sale of chrome concentrate.

Underlying earnings (EBITDA) shot up 243% to US$124.2mln, from US$36.2mln 12 months earlier, while profit before tax rocketed 498% to US$104.6mln from US$17.5mln.

Operating cash flow improved to US$104.9mln from US$39.7mln previously, leading to the company moving into a positive net cash position of US$29.8mln compared with a deficit of US$26.2mln at the end of March 2020.