BRMS — Revenue grew by 287% yoy due to a 251% yoy increase in gold production

BRMS — Revenue grew by 287% yoy due to a 251% yoy increase in gold production Bumi Resources Minerals (BRMS) reported significant growth in 1H24, with revenue surging by 287% yoy to USD15.8 mn and net profit rising by 67% yoy. BRMS’s strong performance is attributed to a 251% yoy increase in gold production, reaching 26,744 troy ounces, and a 15% yoy rise in the average selling price of gold. However, BRMS faced challenges with opex, which spiked by 437.3% yoy in 2Q24 due to higher costs related to salary, taxes, and the preparation of new facilities. (Source : Kontan)