Goldplat Profit Surges Amid Strong Gold Recoveries
Goldplat PLC saw its quarterly profit soar in the fourth quarter ended June 30, driven by stronger performance from its South African recovery operation.
Pretax profit rose to GBP3.4 million, a significant increase from GBP766,000 a year earlier. Operating profit climbed 93% to GBP3.2 million from GBP1.7 million in the same period last year.
The company attributed the growth primarily to its South African operation, where pretax profit jumped to GBP2.6 million from GBP602,000. In Ghana, pretax profit increased to GBP830,000 from GBP164,000.
Despite a 16% contraction in the gold price during the fourth quarter, Goldplat's operating margins remained strong due to solid gold recoveries and higher by-products market share.
The company declared an interim dividend of 0.23285 pence per share, up from 0.0878p last year.