Jubilee Metals Group Plc. (JLP.L) Monday announced a 54.4 percent decline in Profit after tax while group revenues surged 51 percent for the first half of the year, compared to the same period last year. The company attributed revenue growth to increased production of chrome concentrates.
The pre-tax profit was $1.524 million compared to $5.585 million last year. Profit declined to $2.50 million from $5.478 million in the prior year. On a per share basis, earnings were $0.05, compared to $0.20 last year.
Group revenue was $141.5 million, up from $93.7 million a year ago.
Group EBITDA decelined 6.8 percent to $13.6 million $14.6 million last year and was impacted by softer chrome prices during the period.
For the Zambia unit, Copper revenue gained 5.1 to $8.3 million $7.9 million, while cost per tonne increased by 30.6 percent to $5948 per tonne from $4554 per tonne. Copper units produced declined 13.6 percent to 1454 per tonne 1683 per tonne last year.
For the South Africa segment, Chrome revenue increased by 75.9 percent to $114.5 million $65.1 million in the prior year.
Revenue per tonne of chrome concentrate increased by 23.3 percent to $111 per tonne from $90 per tonne supported by the sale of chrome concentrate at prices above historically fixed margin chrome contracts.
Looking ahead to the full year 2025, the company expects to achieve chrome concentrate production of 1.65 million tonnes and PGM production guidance of 36000 oz.
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