Goldplat reports 'excellent' first half as profits rise

South Africa and Ghana-focussed gold producer Goldplat reported an “excellent result” in its first half on Friday, with operating profit rising 28% year-on-year to £3.33m.

The AIM-traded firm said its net profit from continued operations doubled year-on-year for the six months ended 31 December, to £2.07m, from £1.01m a year earlier.

As a result of its increased performance, the company’s fully-diluted earnings per share also doubled to 1.19p from 0.59p.

The group recorded a net cash balance of £1.64m at the end of the period, down from £3.46m at the end of June.

“I am pleased with the continued strong operating results achieved by the group, but even more so, how this is translating into increased profits and earnings for the owners of Goldplat,” said chief executive officer Werner Klingenberg.

At 1157 GMT, shares in Goldplat were up 3.36% at 7.39p.