Interim Results to 30 June 2024
30 September 2024
Majestic Corporation plc
(the "Company" or "Majestic")
Interim Results to 30 June 2024
Majestic Corporation plc (AQUIS: MCJ), a sustainable circular economy solutions provider specialising in recycling precious and non-ferrous metals, is pleased to announce its interim results for the 6-month period ended 30 June 2024.
Financial highlights:
• Revenue was US$25.0m (HY 2023: US$13.0m)
• Profit before tax US$1.2m (HY 2023: US$0.9m)
• Net assets increased to US$8.7m (as at 30 June 2023: US$7.6m)
• Cash in bank and on hand of US$0.4m (as at 30 June 2023: US$1.0m)
• Earnings per share increased to 5.2 cents (HY 2023: 3.7 cents)
• Post period end the Company received Enterprise Investment Scheme status.
Peter Lai, Chairman, CEO and Founder of Majestic said:
"I am delighted to report an outstanding set of interim results which has seen revenue growth of 92%, profit before tax growth of 41% and earnings per share growth of 40%, compared to the 6 months to 30 June 2023. Growth was driven largely from the performance of the UK market, our battery materials and solar recycling operations.
As industries continue to prioritise sustainability and seek to secure control over critical resources, Majestic's expertise in precious and industrial metals gives us a clear advantage.
Whilst growth in the second half will not be of the same magnitude, the combination of our strategic agility and market insight ensures Majestic's sustained growth and long-term success.
-Ends-