West African Resources (ASX:WAF) H1 2024 results

Key financial results

• Revenue: AU$344.4 million (up 11% from H1 2023).

• Net profit: AU$82.2 million (up 11% from H1 2023).

• Profit margin: 24% (in line with H1 2023).

• Earnings per share: AU$0.08 (compared to AU$0.073 in H1 2023).

All figures shown in the graph above refer to the last 12 months (TTM)

West African Resources: Sales and profit exceed expectations

Sales exceeded analyst estimates by 1.3%. Earnings per share (EPS) also exceeded analyst estimates by 32%.

Average sales growth of 20% per annum is expected over the next three years. In comparison, the growth forecast for the Australian metals and mining industry is 1.4%.

Performance of Australian metals and mining industry.

The company’s shares fell 5.1 percent compared to the previous week.

Risk analysis

Before we conclude, we found out 2 warning signs for West African Resources (1 is potentially serious!) that you should know about.

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