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The Board of OM Holdings Limited (“OMH” or the “Company”, and together with itssubsidiaries, the “Group”) is pleased to report an increase in revenue for the half year ended30 June 2014 from A$158.9 million to A$259.9 million.
H1 2014 revenue of A$259.9 million achieved, on the back of higher tonnagestraded despite the weak manganese ore and ferro-manganese alloy prices.
Gross operating margin declined from 14% in H1 2013 to 6% in H1 2014 in line withweak product prices;
Operating cash flows before tax of A$21.9 million generated during the six-monthperiod ended 30 June 2014, and cash reserves of A$69.6 million as at 30 June 2014;
Loss per share narrowed to A$0.026 per share in H1 2014 from A$0.033 per sharein the same corresponding period in 2013;
Progress payment associated with the construction activities of OM Sarawak is themain contributor to the increase in property, plant and equipment to A$387.0million;Production and shipments of Bootu Creek ore during H1 2014 were 446,785 tonnes(H1 2013: 403,790 tonnes) and 492,536 dry tonnes (H1 2013: 375,071 dry tonnes);
Bootu Creek’s cash operating cost was A$4.36/dmtu during H1 2014 (H1 2013:A$4.57/dmtu);
Sales of 43,721 tonnes of High Carbon Ferro Manganese achieved in H1 2014 (H12013: 43,453 tonnes) on a production volume of 46,510 tonnes (H1 2013: 46,999tonnes)