PADENGA Holdings Limited (Padenga) posted a 187% profit surge to US$26,29 million for its half year performance ended June 30, 2025, driven by a 38% revenue jump boosted by stronger gold prices. Padenga, a miner and crocodile farmer, recorded its profit after tax from a 2024 comparative of US$9,24 million. Padenga’s mining subsidiary Dallaglio Investments (Private) Limited (Dallaglio) recorded turnover of US$123,37 million during the review period, an increase of 41% from the prior year comparative.
The group’s mining business thus contributed 94,4% to total revenue of US$130,68 million during the period, the balance of which was generated by its agribusiness arm. “The group delivered another set of strong financial results for the half-year ended 30 June 2025. This positive performance was largely attributable to the mining division, which benefited from the firmer gold spot prices,” Padenga chairman Thembinkosi Sibanda said in a statement attached to the group’s “The division realised an average gold spot price of US$3 106/oz [ounce], compared to same period prior year average spot price of US$2 198/oz.
The group recorded revenue of US$130,68 million for the six months under review, a 38% increase over the US$94,88 million recorded in prior period. “This positive performance was largely attributable to the mining division, which benefited from the firmer gold spot prices and production volumes that surpassed targets and prior year.” Dallaglio produced 1 292kgs of gold during the period under review, up 7% from the 1 209kgs in the comparative 2024 period. “This increase was on the back of stronger grades and higher plant recoveries,” Sibanda explained.
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Consequently, cash generation from mining operations of US$38,12 million was realised, representing a 183% growth from the prior year. This strong cash generation supported continued investment in strategic growth and debt reduction.
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