date:May 07, 2014
pped at higher average selling prices, together with a lower PGK-USD exchange rate and the cost saving measures implemented in the prior year have resulted in improved gross margins and improved profitability when compared to the same period last year.
The lower PGK-USD exchange rate during the period has continued to mitigate some of the cost pressure on our domestic wages and locally consumed services in US Dollar terms, however this has also resulted in net currency losses of USD 9.6 million