Japaul Gold and Ventures Reports 202% Profit Surge

Japaul Gold and Ventures Plc recorded a profit before tax of N1.50 billion for the nine months ended September 2026, marking a 202.3% increase from N496.22 million in the same period of 2025. In the third quarter, pre-tax profit rose to N704.94 million from N75.95 million a year earlier.

The company's unaudited financial statements, approved by its board on 28 October 2026, indicate that revenue grew to N4.22 billion from N2.66 billion in the previous year, with dredging as the main revenue contributor, generating N4.19 billion. Despite the profit increase, operating cash flow turned negative, with net cash used in operating activities at N612.63 million, compared to a positive N737.37 million in 2025.

Financing activities generated net cash of N7.23 billion, but cash and cash equivalents fell to N142.68 million by the end of September 2026. Japaul Gold's share price closed at N2.53 on October 28, 2026, reflecting a 1.2% year-to-date increase.