LONDON BRIEFING: Entain Picks First Woman CEO After Seeing Off MGM Bid
Thu, 21st Jan 2021 08:06
(Alliance News) - Ladbrokes owner Entain on Thursday reported a strong end to 2020 and said it has ongoing momentum entering the new year as it announced the appointment of a female chief executive.
Total group net gaming revenue increased 7% in the fourth quarter of 2020, with online growing 41% but retail hit by restrictions and shop closures.
For the full-year, Entain expects earnings before interest, taxes, depreciation and amortisation in a range of GBP825 million to GBP845 million, in line with its earnings guidance earlier in January.
Kenmare operates the Moma titanium minerals mine in northern Mozambique.
The group benefitted from higher ore grades being mined by Wet Concentrator Plant (“WCP”) B at Pilivili and calmer sea conditions in the three-month period, according to a trading update.
Overall, its heavy mineral concentrate (HMC) production of 1,201,100 tonnes in 2020, was in line with the prior year, benefitting from the higher ore grades mined in quarter four 2020, but offset by the decrease in excavated ore volumes resulting from WCP B’s relocation during the year.
Ilmenite production of 756,000 tonnes last year was down 15pc on 2019.
Kenmare had total shipments of finished products of 853,100 tonnes last year, representing a 17pc decrease compared to 2019, due to poor sea conditions, and works to upgrade transhipment capacity.
Titanium miner Kenmare Resources said that 2020 was a strong year for the titanium feedstocks market, with Kenmare achieving higher average prices for its ilmenite and rutile products compared with 2019.