Pandega, Led By Zimbabwean Executive Michael Fowler, Hits 223 Million Revenue In 2024

Padenga Holdings revenue soared 43 to 222.96 million, while net profit skyrocketed 392 to 40.2 million, driven by higher gold deliveries.

Dallaglio Investments contributed 86 of total revenue, with gold sales rising 29 to 2,740 kg, benefiting from higher grades and capacity upgrades.

The company raised its final dividend by 154 to 0.66 per share, while total equity surged 39 to 121.82 million, reinforcing financial strength.

Padenga Holdings Limited, the Zimbabwe-based mining and agribusiness group led by Michael Fowler, delivered strong financial results for the year ending Dec. 31, 2024, driven by higher gold deliveries and improved efficiency across its operations.

The companys revenue surged 43 percent to 222.96 million , up from 155.58 million in 2023. Operating profit jumped 169 percent to 71.81 million, while net profit soared 392 percent to 40.2 million, highlighting its ability to capitalize on favorable market conditions.

Padengas strong performance was largely powered by its gold mining subsidiary, Dallaglio Investments, which contributed 86 percent of the groups revenue.

Dallaglios revenue climbed to 192.53 million in 2024, up from 125.62 million the previous year, thanks to a 29-percent increase in gold sales. The company delivered 2,740 kg of gold, compared to 2,120 kg in 2023, benefiting from higher grades at both the Eureka and Pickstone Peerless mines, as well as capacity upgrades implemented in late 2023.

Meanwhile, Padengas agribusiness segment saw modest growth, with revenue inching up to 30.43 million from 29.95 million. The Nile crocodile skin export business posted a slight revenue increase to 30.39 million, while meat sales dipped marginally from 42,060 to 40,170.