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Here’s why the Aeris Resources (ASX:AIS) share price is rocketing 22%



The Aeris Resources Ltd (ASX: AIS) share price is rocketing, up 22% in early afternoon trading. At the time of writing, the Aeris share price has retreated slightly to 12 cents, up 20%. 

We take a look at the Aeris half year financial results (H1 FY21), released after market close yesterday, below.

How much did Aeris’ profit increase for the half year?

The Aeris share price is surging after the ASX copper-gold producer and explorer reported a 99% lift in revenue. This equates to revenue of $214.5 million, up from $108 million in H1 FY20.

Aeris notes that the half year results include those of the Cracow Gold Operations. This was acquired from Evolution Mining Ltd (ASX: EVN) on 1 July.

The company’s gross profit soared 1,205%,…

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