JUBILEE Platinum achieved revenue in growth supported by the improved performances from the Middleburg smelter and power plant while further reducing overhead expenditure, the Altx-listed mining group said yesterday. The group said improved performance of the Middleburg operations reflected the successful implementation of the renewal programme over the past two years. For the six months to December, the group’s revenue was up R49.4 million from R36.11m in the previous year. Gross profit increased by 34 percent to R23.7m from R15.5m in the previous period. Its net loss fell to R2.305m during the half year to December from R8.308m loss in the prior comparable six-month period. Jubilee said its operational highlights for the six months included improved operations performance in Middleburg on the back of the implementation of the smelter renewal programme. The company also entered into a platinum group metals (PGMs) heads of agreement with Hernic Ferrochrome for the processing of its PGMs – containing surface material estimated in excess of 3.3 million tons. Shares fell 3.7 percent to close at 26c. – Nompumelelo Magwaza