Perseus Mining has reported record financial performance for the fiscal year ending June 30, 2025, with profit after tax increasing 16% to US$421.7 million and revenue growing 22% to US$1.248 billion.
The African-focused gold producer announced a final dividend of A$0.05 per share, bringing total FY25 dividends to A$0.075 per share, a 50% increase from the previous year. The company has also renewed its share buyback program, allocating up to A$100 million for on-market purchases over the next 1
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Perseus Mining has reported record financial performance for the fiscal year ending June 30, 2025, with profit after tax increasing 16% to US$421.7 million and revenue growing 22% to US$1.248 billion.
The African-focused gold producer announced a final dividend of A$0.05 per share, bringing total FY25 dividends to A$0.075 per share, a 50% increase from the previous year. The company has also renewed its share buyback program, allocating up to A$100 million for on-market purchases over the next 12 months.
Managing Director and CEO Jeff Quartermaine attributed the strong results to favorable market conditions and operational excellence. “The record financial results that Perseus has delivered this financial year reflect a continuation of both elevated gold prices and our strong, consistent operating performance at all levels of our business throughout the year,” Quartermaine said.
Perseus’s operational cash flow performance saw a significant improvement, with net cash flow from operating activities reaching US$536.7 million, representing a 25% increase compared to FY24. On a per-share basis, this equated to US$0.391, resulting in a price-to-operating cash flow ratio of 6.1.
The company maintains a robust balance sheet with zero debt and US$826.5 million in cash and bullion. This strong financial position provides substantial flexibility for both capital returns and strategic investments in growth projects.
“Since our maiden dividend distribution in August 2021, Perseus has to date returned A$286.1 million to our shareholders via a combination of dividends and share buybacks,” Quartermaine noted. The latest dividend increase and share buyback renewal highlight management’s confidence in the company’s future cash generation capacity.
Perseus has simultaneously maintained its commitment to sustainability and community investment. The company contributed approximately US$813 million in total economic value to host countries Tanzania and Sudan during the fiscal year. Safety performance remained strong, with a Total Recordable Injury Frequency Rate of 0.60 and Lost Time Injury Frequency Rate of 0.08.
Local employment and procurement initiatives continued to be prioritized, with 94% local employment and 88% local procurement across operations. The company invested US$5.6 million in community contributions in Côte d’Ivoire and Ghana, demonstrating its commitment to supporting local communities where it operates.
Environmental performance remained stable, with zero significant environmental events recorded and emissions intensity maintained at 0.56 tonnes of CO2 equivalent per ounce of gold produced. This performance reflects Perseus’s focus on sustainable mining practices across its African operations.
While returning substantial capital to shareholders, Perseus continues to invest in future growth opportunities. The company is advancing development of the Nyanzaga Gold Project in Tanzania and the CMA Underground Project at its Yaouré Gold Mine in Côte d’Ivoire, positioning itself for continued production growth.
“In determining the quantum of these capital returns, we have carefully considered our considerable cashflow generating capacity as well as the capital investment programme that lies ahead for Perseus,” Quartermaine explained. “We are also mindful that in addition to investing in the future growth of our Company, we need to invest in our social licence to operate by continuing our current practice of contributing materially to the economies of our host countries and host communities.”
The company’s financial metrics position it favorably within the gold mining sector, with an earnings yield of 11.3% and a price-to-earnings ratio of 8.8 based on the company’s 20-day volume weighted average price. Basic earnings per share reached US$0.270, up 14% from FY24.
Perseus’s focus on African gold assets provides exposure to a region with significant mineral potential, while the company’s established operational capabilities and local relationships support sustainable production growth. The combination of current cash generation and future development projects creates a platform for continued value creation in the gold sector.
For investors seeking exposure to African gold production, Perseus offers a combination of current cash generation, progressive dividend policy, and growth potential. The company’s commitment to responsible mining practices, strong financial performance, and disciplined capital allocation approach position it as a notable player in the African gold mining sector.
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