Kenmare soars on higher profits

Shares in FTSE 250 miner Kenmare Resources closed up 9.49 per cent yesterday as it reported a considerable jump in profits and revenue. The zircon miner posted an increase in full-year pre-tax profits to $52.8m (£35.5m), up from $18.2m in 2011, on revenues of $234.6m, up from $167.5m the year previously. The markets were strong in 2012, Kenmare said, and the company was able to sell more metal than it produced at higher prices than in 2011.