Metals Exploration plc (MTL.L), a gold production company, reported Friday higher fiscal 2025 profit, mainly attributable to higher gold price despite a 22.2 percent decrease in gold production.
Looking ahead, the company revised fiscal 2026 gold production outlook for the Runruno mine to 40,000 - 48,000 ounces.
In 2025, the profit before tax rose to $45.12 million from $34.64 million in 2024.
Profit attributable to equity holders of the parent went up to $28.89 million from $25.59 million in the previous year. Earnings per share, meanwhile, dropped to 0.97 cents per share from 1.28 cents per share in 2024 on higher share count.
EBITDA for 2025 was $105.22 million, compared to $89.65 million in 2024. Adjusted EBITDA climbed 27.6 percent to $125.94 million from $99.42 million last year.
Annual revenue was $208.41 million, 9.1 percent higher than $191.15 million in 2024.
Total gold produced fell to 65,287 ounces from 83,897 ounces last year. However, average gold selling price climbed to $3,154 per ounce from $2,312 per ounce a year ago.
On the London Stock Exchange, the shares were trading 4.97 percent lower at 13.59 pence.
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