LONDON - Goldplat plc (AIM:GDP), a gold recovery services company with operations in South Africa and Ghana, reported a substantial increase in its financial performance for the fiscal year ended June 30, 2024. The AIM-listed company, servicing the African and South American mining industries, announced a 73.6% rise in revenue to £72.7 million, up from £41.9 million in the previous year.
The company's operating profit surged by 127.0% to £9.8 million, compared to £4.3 million in 2023. Profit for the year also saw a significant increase of 40.9%, reaching £4.3 million, up from £3.1 million reported last year. This financial growth was accompanied by robust cash generation, with net cash flows from operating activities amounting to £3.9 million and cash and cash equivalents rising to £3.9 million.
Earnings per share (EPS) increased by 50.3% to 2.51p. Werner Klingenberg, CEO of Goldplat, expressed satisfaction with the group's performance, attributing the strong results to resilient operations and diverse markets, despite several operational challenges.
Goldplat's success is partly due to improved supply operations in Ghana, a favorable gold price environment, and reduced electricity supply disruptions in South Africa. The company's focus on long-term earnings visibility through strengthened partnerships and processing methods has also played a role in its positive financial outcome.
The company's strategic approach includes increasing its role in the circular economy, with a focus on extracting value from gold-bearing by-products and exploring opportunities in other commodities. Goldplat's commitment to environmental, social, and governance (ESG) initiatives remains a priority, aligning with its strategy to serve primary producers' ESG goals.
The annual report and accounts for Goldplat will be available on the company's website, and hard copies will be posted to shareholders who have opted for printed versions by December 23, 2024. The company's Annual General Meeting, initially scheduled for December 30, 2024, has been adjourned to provide shareholders with the necessary notice, with a new date to be confirmed.
The information reported is based on a press release statement from Goldplat plc.
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