Aug. 17 (Bloomberg) -- Fresnillo Plc, the world’s largest primary silver producer, said first-half profit slipped 14 percent after the price of the metal declined. Net income declined to $121.1 million, or 16.9 cents a share, from $141 million, or 21.5 cents, a year earlier, the Mexico City-based company said today in a statement. Fresnillo declared an interim dividend of 5.25 cents a share and reiterated its full-year production forecast. Silver for immediate delivery averaged $13.605 an ounce in the half, down 21 percent from a year earlier. Fresnillo said in April that full-year production will be “slightly higher” than then 34.8 million ounces produced last year last year. “We remain positive about the second half of 2009, reiterate our production targets for the full year and remain confident of achieving our budget for the year whilst maintaining our current profit margins,” Chief Executive Officer Jaime Lomelin said in the statement.

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