Padenga Holdings recorded a 44 percent rise in revenue for the half-year ended June 2026, spurred by its gold mining division, Dallaglio, which contributed 97 percent to the group’s top line.
The group’s profit after tax surged 112 percent to US$82.74 million, while net interest income stood at US$1.24 million, compared to a net interest expense of US$3, 19 million in prior period.
EBITDA increased by 110 percent to US$100.82 million for the six months from US$48.10 million recorded in prior comparable period.
“The group sustained its positive momentum, delivering another strong financial performance…driven by the mining division, which continued to benefit from a favourable gold price environment,” said Padenga chairman, Thembinkosi Sibanda.
“Dallaglio contributed 97 percent to group revenues, up from 94 percent in H1 2025,” he said.
Dallaglio posted a US$93.75 million profit before tax for the six months, up 127 percent from US$41.31 million.
The gold miner’s revenue increased by 48 percent to US$182.34 million from US$123.37 million in H1 2025, driven by higher gold prices and increased sales volumes.
The division realised an average gold price of US$4.668 per ounce, compared to US$3,106 per ounce in the prior-year period, while gold sales volumes increased to 43,228 ounces from 41,528 ounces.
Dallaglio’s EBITDA increased by 107 percent to US$101.87 million, which Sibanda said reflected strong earnings growth and continued operational efficiencies.
Cash generated from the miner’s operations increased by 81 percent to US$68.93 million from US$38.12 million in the corresponding period last year.
“This strong cash generation supported continued investment in strategic growth initiatives, accelerated debt reduction and further strengthened the balance sheet,” said Sibanda.
Padenga has committed significant resources to equipment and infrastructure.
During the half-year, capital expenditure reached US$13.24 million, while the group had authorised but has not yet contracted capital commitments of US$39.34 million.
The company is also investing in power security.
Its 5.4MW solar facility at Eureka generated 4.9MW, while a further 1.6MW solar project at Pickstone is expected to be commissioned during the second quarter of 2027.
Padenga said renewable energy remained central to its operating strategy, with the Eureka and Pickstone projects expected to reduce reliance on grid power.
The group declared an interim dividend of 3.19 US cents per share.