Higher zinc prices result in profits increase at Lisheen mine company

HIGHER market prices for zinc led the main Lisheen mine company in Co Tipperary to record almost a fourfold increase in pre-tax profits to $82.4 million (€60.2m) last year.

Accounts just filed by Lisheen Milling Ltd, show that the company recorded the sharp rise in pretax profits after the firm increased turnover by 27% from $208m to $264.9m in the 12 months to the end of December last.

The company benefited from a $35m reversal in impairment last year that boosted profits.