Good Shares to Buy

Zinifex is Cash Rich

{ 9:04 AM, 27/11/2007 } { 0 comments } { Link }

Zinifex (ZFX) predicts that its operating costs will rise by 10 percent this financial year due to the ongoing skills shortage and higher Australian dollar. Lower zinc prices are dampening earnings but $800 million reaped from the sale of its European smelters would see the company better last year's $1.3 billion net profit, acting chief executive, Tony Barnes, said yesterday. Incoming chief executive, Andrew Michelmore, will target an aggressive acquisition strategy when he joins Zinifex in February. ZFX share price has closed at 14.71.
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