The West

Perilya s managing director and chief executive Paul Arndt.
Perilya's managing director and chief executive Paul Arndt.

Perilya's annual profit has fallen 29 per cent to $27.7 million because of lower commodity prices, the high Australian dollar and a $4.5 million after-tax sales adjustment charge.

The result was achieved on revenue of $353.79 million, down from $360.19 million in the previous corresponding period.

Cash on hand at the end of the period was up slightly to $37.6 million.

Perilya's managing director and chief executive Paul Arndt said the company had achieved a strong profit result in a period that was heavily impacted by a sustained appreciation of the Australian dollar and a weakening of metal prices, particularly for zinc (11 per cent down), lead (14 per cent down) and copper (10 per cent down).

"That such a positive result was achieved in a continuing period of declines in Australian dollar metal prices underlines the importance of the company's strong focus on cost control and continuing productivity improvements across both operations (Broken Hill in NSW and Cerro de Maimón in the Dominican Republic)," he said.

He said the company was well leveraged to benefit from any upturn in commodity prices.

Perilya shares were up half a cent to 28.5 cents at 11.40am.

The West Australian

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