Perseus Mining Posts 16% Profit Rise and Boosts Dividends by 50%
Perseus Mining has reported record FY25 financial results with a 16% rise in profit after tax and announced a 50% increase in dividends alongside a renewed A$100 million share buyback program.
- Profit after tax up 16% to US$421.7 million
- Revenue increased 22% to US$1.248 billion
- Final dividend raised 50% to A$0.075 per share
- A$100 million on-market share buyback program renewed
- Strong sustainability performance with high local employment and zero debt
Record Financial Performance
Perseus Mining Limited has delivered a standout financial year for FY25, posting a 16% increase in profit after tax to US$421.7 million, driven by a 22% rise in revenue to US$1.248 billion. Earnings before interest, tax, depreciation, and amortisation (EBITDA) also climbed 18% to US$740.3 million. Despite a slight 2.8% dip in gold production, Perseus benefited from elevated gold prices, which helped offset production declines at its Edikan and Sissingue mines.
Capital Returns and Shareholder Value
Reflecting its robust cash flow, Perseus declared a final dividend of A$0.05 per share, bringing total dividends for FY25 to A$0.075 per share, a 50% increase over the previous year. The company also announced the renewal of its on-market share buyback program, committing up to A$100 million over the next 12 months. These moves underscore Perseus’s confidence in its financial position, supported by a cash and bullion balance of US$826.5 million and zero debt.
Sustainability and Local Impact
Beyond financial metrics, Perseus reported strong sustainability outcomes, including a Total Recordable Injury Frequency Rate (TRIFR) of 0.60, the lowest in company history, and 94% local employment. The company contributed US$5.6 million to communities in Côte d’Ivoire and Ghana and maintained stable emissions intensity. These efforts highlight Perseus’s commitment to social license and responsible mining practices in its African host countries.
Looking Ahead
Perseus’s outlook for FY26 remains steady, with production guidance of 400,000 to 440,000 ounces at an all-in site cost between US$1,460 and US$1,620 per ounce. The company continues to invest in growth projects, notably the Nyanzaga Gold Project in Tanzania and the CMA Underground Project at Yaouré in Côte d’Ivoire, balancing expansion with shareholder returns and sustainability commitments.
Managing Director Jeff Quartermaine emphasised the company’s balanced approach – "Having achieved our corporate mission of generating material benefits for all stakeholders, we look forward to continuing this approach for many years to come."
Bottom Line?
Perseus’s record results and renewed capital return initiatives set a strong foundation, but execution on growth projects and market conditions will be key to sustaining momentum.
Questions in the middle?
- How will Perseus balance capital returns with funding its growth projects in Tanzania and Côte d’Ivoire?
- What impact might restructuring costs at Edikan have on future operating expenses?
- How sensitive are Perseus’s forecasts to fluctuations in gold prices and geopolitical risks in host countries?
