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Southern Alliance Logs Higher Fiscal H2 Profit as Revenue More than Doubles

MT Newswires ·  {{timeTz}}

11:51 PM EDT, 09/26/2021 (MT Newswires) -- Southern Alliance Mining (SGX:QNS) booked a higher after-tax profit of 96.7 million Malaysian ringgit ($23.1 million), or 0.1978 ringgit per share, in the fiscal second half, compared with 27.1 million ringgit, or 0.0558 ringgit per share, a year ago.

Revenue for the six months ended July 31 soared 108% year over year to 235.3 million ringgit from 113.2 million ringgit, mainly due to a higher average realized selling price across products and an increase in sales volume of iron ore concentrate.

The iron ore company also proposed a final dividend of 0.016 ringgit per share for the 12 months ended July 31.

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