Centamin saw its share price dive 6.7% to 91.6p in early morning trading on Wednesday, after the mining firm reported a 12% decrease in revenue and a halved pre-tax profit in 2021.
The gold miner reported a revenue of $733 million in 2021, compared to $828 million in 2020.
The company announced a shocking pre-tax profit decrease to $153 million against $315 million in 2020, representing a 51% decline.
Centamin reported an adjusted EBITDA of $328 million compared to $437 million in 2020.
The gold mining company announced a final dividend of 5c per share, representing a $58 million payout for shareholders and a total shareholder distribution of $105 million over 2021.
The group produced 415,370 ounces of gold in 2021, an 8% decrease compared to 452,320 ounces in 2020.
Centamin reported 407,252 ounces of gold sold for 2021, against 468,681 ounces in 2020, amounting to a 13% decline.
The company noted a higher price per gold ounce at $866 against $719 in 2020.
“Delivery towards our strategic objectives was the standout achievement in 2021, placing Centamin in a much stronger position going forward and laying the foundations for long-term success,” said Centamin CEO Martin Horgan.
“We safely delivered annual production and cost guidance and made excellent progress on our key capital projects.”
“Balancing our growth plans with shareholder returns, today we announced a 5 US cent final dividend for 2021 and expressed our intention to pay a minimum 5 US cent 2022.”