RE: excellent result12 Aug 2016 19:38
Clive Line, CFO of Serabi commented,
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"In most respects this has been another good financial quarter.� Revenue has increased by 39% year-on year, with gross profit over the same period up by 130%.� The improvement in the gold price has also contributed to a 22% improvement in revenue compared with the first quarter of this year.� We have met our debt repayment obligations and ended the quarter with a cash position of almost US$4.8 million.� With only a small level of outstanding bank debt, which it is scheduled to be repaid by the end of 2016, our balance sheet is looking strong.
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