Wishbone Gold PLC (LON:WSBN) was a bright spot on Thursday as the company reported higher profits for its current full year.

In a trading update for 1 January to 17 December, shortly before its year-end of 31 December, the gold miner reported a trading profit of US$56,986, up from US$46,271 in the prior year, while revenues decreased slightly to US$10.6mln from US$10.9mln, although the company said it expected a year-on-year increase for the entire 12 months of 2019.

READ: Wishbone Gold reports increased cross-border trading of physical gold

Wishbone also said it is “hopeful” that the expansion of its operations in Hong Kong will increase at a greater rate once instability in the region connected to recent protests “settles down”, while the firm is also planning to begin operations in Europe by the end of December, which it expects to have a “positive impact” on turnover and profitability.

The company has also reached a settlement with Scotia Group Companies regarding operations in Honduras, and as such it will receive a payment of US$600,000 over the next six months, US$50,000 has already been paid, as well as up to US$400,000 over the next two years out of any profits from the operation.

The update sent the shares 19.1% higher to 0.03p in mid-afternoon trading.