BRIEF-Fresnillo sees adverse impact on FY gross profit of about $20 mln

viernes 13 de febrero de 2015 03:17 GYT
 

Feb 13 (Reuters) - Fresnillo Plc

* Update on trading

* As a result of this exchange rate movement company estimates an adverse effect on deferred tax charge in region of $55 million, with no corresponding effect on cash flow during period

* Company expects year end revaluation of silverstream to result in a gain in region of $75 million

* Devaluation of Mexican peso is therefore expected to generate a foreign exchange loss in region of $25 million, with no corresponding effect on cash flow in 2014

* Depreciation in second half of 2014 is expected to be around $30 million higher than in first half of year

* Charge in region of $17 million will be reflected in full year results for 2014 within other operating expenses, including $4.1 million reflected in half year results

* Expected to have an adverse impact on gross profit of approximately $20 million Source text for Eikon: Further company coverage: