Source - Alliance News

Goldplat PLC said on Friday interim profit and revenue were down amid increased expenses and effects of the South African energy crisis.

The London-based gold recovery services company, which has operations in South Africa and Ghana, said its pretax profit for the six months ended December 31 fell to £2.5 million from £3.0 million in 2021.

Goldplat said revenue was down to £20.6 million from £21.3 million.

These results come as Goldplat reported that its administrative expenses had widened from £1.1 million from £822,000 the year prior, while also noting the impact of electricity cuts in South Africa on production.

The company did not declare an interim dividend, unchanged from a year ago.

Looking ahead, Goldplat said it is focused on increasing long term visibility of earnings through investment into research and development, expansion of environmental services and continuing and identifying opportunities for growth in recovery operations.

Chief Executive Officer Werner Klingenberg said: ‘I am pleased with the continued strong operating results achieved by the group, considering some of the difficult circumstances we’ve experienced during the second quarter in South Africa.’

Shares were up 2.9% at 8.49 pence each in London on Friday afternoon.

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