08:28 AM EDT, 03/27/2024 (MT Newswires) -- Dynacor Group Inc. ( DNGDF ) on Wednesday reported its FY 2023 results (in US$).

The company reported annual sales of $250.2 million, a 26.7% increase over FY 2022's $197.5 million. The increase was due to higher quantities sold and higher average selling prices. Dynacor ( DNGDF ) reports that it achieved a production record of 130,001 AuEq ounce for FY 2023.

Net income was $15.1 million, or $0.39 per diluted share, versus net income of $12 million, or $0.30 per diluted share, last year.

As at December 31, 2023, Dynacor's ( DNGDF ) working capital amounted to $50.8 million, including $22.5 million in cash ($43.7 million, including $25.6 million in cash at December 31, 2022).

2024 outlook

Sales of between $265-285 million, g a growth of 6-14% over 2023 sales.

Net income of between $12-15 million, EPS of between $0.33 - $0.41.

Dynacor Group ( DNGDF ) plans to invest up to $13 million in capital expenditures in 2024.