Japaul Gold reports N1.8 billion in full-year 2024 profit as equipment rental revenue soared

Japaul Gold & Ventures Plc has published its audited financial statement for the year ended 31 December 2024, reporting a pre-tax profit of N1.8 billion. This marks a significant recovery from the pre-tax loss of N622.

02 million recorded in the previous year. The turnaround was driven by a strong increase in revenue, which surged by 59.16% year-over-year to N4.



1 billion, up from N2.5 billion in 2023. Related Stories Nigerian Exchange fines Presco, Japaul, two others N10 million for default filings A substantial portion of this revenue came from equipment rental, which contributed N3.

9 billion. Additionally, the company earned N145.7 million from chipping and crushing activities.

However, direct costs spiked by 29.12%, reaching N1.9 billion, up from N1.

5 billion the prior year. Despite this increase, the company achieved a gross profit of N2.1 billion, representing a growth of 102.

25% from the N1.05 billion reported the previous year. Additionally, the group generated ‘other income’ of N242.

8 million, an increase of 78.11%, with profits from the disposal of Personal Protective Equipment contributing significantly at N196.1 million.

Although administrative expenses slightly rose to N580.4 million, a 0.77% increase, the company reported a profit of N1.

8 billion from core operations, reflecting a growth of 191.30% compared to N619.3 million in the previous year.

With no net finance costs reported, the pre-tax profit was the same figure as the operating profit. Revenue: N4.1 billion, +59.

16% YoY Direct costs: N1.9 billion, +29.12% YoY Gross profit: N2.

1 billion, +102.25% YoY Other income: N242.8 million, +78.

11% YoY Administrative expenses: N580.4 million, +0.77% YoY Operating profit: N1.

8 billion, +191.30% YoY Pre-tax profit: N1.8 billion, +390.

06% YoY As of the close of trading on April 22, 2025, Japaul Gold was priced at N2.13 per share on the Nigerian Stock Exchange, reflecting a year-to-date return of 3.90%.

In 2024, the company’s shares posted a full-year return of 20.6%..