African-focused gold producer Perseus Mining has unveiled its results for FY24, highlighting a record performance with significant financial gains.
Perseus achieved revenue of US$1.03 billion ($1.51 billion), a 7% increase from FY23. EBITDA rose 13% to US$625.2 million ($959.2 million).
Profit after tax improved by 14%, amounting to US$364.8 million ($536.5 million).
The company announced a final dividend of 3.75 cents per share, taking the total FY24 dividend to 5 cents per share.
Additionally, Perseus plans an on-market share buy-back program of up to $100 million over the next 12 months.
Perseus' Chairman and CEO, Jeff Quartermaine, commented, "The record financial results that have been delivered by Perseus this financial year reflect the strong gold price environment...as well as our continued strong, consistent and safe operating performance at all levels of our business throughout the year."
Perseus prides itself on robust sustainability performance, recording a total economic contribution of approximately US$717 million ($1.05 billion) to Ghana and Côte d'Ivoire.
Furthermore, the company achieved a total recordable injury frequency rate of 1.06, with 96% local employment.
The company also maintained a strong balance sheet, with cash and bullion reserves of US$587 million ($863.4 million) and zero debt.
Net tangible assets stood at US$1.2 billion ($1.77 billion), equivalent to 89 cents per share.
Looking ahead, Perseus expects to meet its guided gold production and cost targets for the half-year and the full year.
The execution of its business strategies reflects Perseus' commitment to delivering benefits across all its stakeholders sustainably.
At the time of reporting, Perseus Mining’s share price was $2.70.