2012 financial results for Fresnillo plc reflect the operational excellence of the company producing record amounts of gold and keeping silver production steady. However, against this strong operating environment, revenue was flat and profit for the year decreased by 19% to US$845 million including the effects of the Silverstream. The impact on profit was mostly due to four things: lower silver price, anticipated lower ore grades at the Fresnillo mine, higher depreciation together with higher exploration expenses.
Fresnillo's balance sheet remains strong with no debt. The Board of Directors has declared a final dividend of 42.4 US cents per ordinary share which is in addition to the interim dividend of 15.5 US cents per share which was paid on 11 September 2012.