Perseus Mining has delivered strong first half results as it reported material improvements across all key financial metrics, benefitting from higher gold prices, which led to higher cash margins.
The gold producer reported US$18.5 million in net profit for the six months ending December 31, 2025, down 8 per cent from US$201.1 million the prior-year period.
The company said net profit fell after bringing into account a foreign exchange loss of US$26.9 million due to a loss on bank balance translations and a 46 per cent lower depreciation and amortisation of US$47.5 million.
Operating cash flow stood at US$193.4 million, compared to SU$247.6 million, while revenue climbed to US$608.5 million from US$581.8 million, due to a 38 per cent increase in the average gold price of US$3,241 per ounce.
Gold sold for the group during the half year totalled 188,916 ounces at an all-in-site cost (AISC) of US$1,649 per ounce.
“As we have flagged, the first half of 2026 reflected a period where our mine sites transitioned into new mining areas along with significant advancement of our capital growth projects,” Perseus CEO Craig Jones said.
“Our strong operational results, along with our low operating cost, produced robust cash flows, further strengthening our superior balance sheet, enabling a 100 per cent increase in our interim dividend to cents per share.
“With a strong balance sheet, high-margin operations, and a clear growth path, we believe we are well-positioned to continue delivering long-term value for our shareholders.”
The company declared a record interim dividend of five Australian cents per share, a 100 per cent increase from the fiscal 2025 interim dividend of 2.50 cents per share.
Perseus maintained its full-year fiscal 2026 production guidance at 400,000–440,000 ounces at an AISC of US$1,600–$1,760 per ounce.
