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Goldplat PLC on Monday said it expects full-year results to be ‘materially below’ current market expectations due to changes to its business model in Ghana and ‘significant foreign exchange losses’. The gold miner and producer with recovery operations in Ghana and South Africa said it expects adjusted pretax profit for the 2025 financial year around £2.6 million, which would be a 57% decline from £6.0 million the year before. The firm declared an interim dividend of 0.0878 pence per share. Goldplat did not pay a dividend last year, and said it now intends to assess the distribution of dividends on a quarterly basis going forward due to the uneven nature of its revenue. Goldplat said the two recovery operations achieved a combined operating profit for the fourth quarter to the end of June of £1.7 million, more than doubled from £694,000 in the previous quarter. The operations achieved a combined pretax profit of £766,000, down 0.4% from £769,000 after they incurred £18,000 in net interest costs and a £967,000 foreign exchange loss, compared to a £90,000 gain in the prior quarter. The company said the foreign exchange loss was driven by the 40% strengthening of the Ghanaian Cedi against the US dollar since April. Goldplat said its cash balance increased 59% to £6.0 million at the end of the fourth quarter from £3.8 million a year before. The cash balance will be used to manage working capital requirements, capital expenditure and to pay the dividend which amounts to £150,000. ‘The group had a strong operating quarter supported by good supply from South America as well as the gold price,’ said Chief Executive Officer Werner Klingenberg. ‘Our operations remain sensitive to continuous supply of gold bearing material, which has been impacted by the decree on export of gold-bearing by-products in some West African countries. ‘The board remains confident in the fundamentals of the business and continues to progress strategic initiatives to improve long-term performance and enhance shareholder value...This should provide stability in working capital requirements and ultimately the continued return of cash to shareholders.’ Shares in Goldplat were down 3.7% at 6.50p in London on Monday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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