Tharisa sees H1 drop in profit, revenue amid volatile commodity prices

Dual-listed platinum-group metals (PGMs) and chrome producer Tharisa delivered a “solid” financial and operational performance in the six months ended March 31, despite volatile commodity prices, says its CEO. “While revenues for the first half of the year were impacted by the 27% drop in PGM prices and a 32% drop in metallurgical grade chrome prices, we remain profitable benefitting to some extent by the 30% weakening in the rand against the dollar and by our decisive move to increase our output of the higher-value specialty chrome concentrates, which is demonstrated by an improved gross profit margin,” CEO Phoevos Pouroulis said on Monday.