Trading Update for Period Ending 31 December 2024
24 March 2025
Majestic Corporation Plc
(the "Company" or "Majestic")
Trading Update for Period Ending 31 December 2024
Increase in gross revenue by 66.7%, exceeding expectations and demonstrating strong growth
Majestic Corporation Plc (AQSE: MCJ), a sustainable circular economy solutions provider specialising in recycling precious and non-ferrous metals, is pleased to announce a trading update for the period ending 31 December 2024 ("FY 24"), subject to audit.
Based on the unaudited financial results, Majestic is pleased to report another year of significant growth and progress in its business and strategic objectives. This includes becoming a key player in the sustainable circular economy in the UK, continuing to grow its client base, enhancing its physical facilities and operational footprint, advancing recycling and processing abilities and a delivering strong ESG performance.
Financial Highlights
· Revenue from continuing operations increased 66.7% to USD$49m (FY 23 USD$29.4m), reflecting strong underlying organic growth and the expansion of the Company's operational base.
· Volumes of materials containing recyclable precious and non-ferrous metals increased 43.3% to 43,000 tonnes (FY23 30,000 tonnes).
Operational Highlights
· Continued growth has required the Company to seek larger operational facilities in the UK, this is presently ongoing.
· Further processing and streamlining of physical recycling will provide additional growth for the future and establish an even stronger operation.
2025 Outlook
Majestic's strong performance in FY 2024 has continued into FY25, with the Company seeing growth across all recycled material volumes within its core business. Whilst metal prices and transportation costs remain key variables to revenue and profitability, the Company's strong relationships with customers and smelters mean Majestic is well positioned for positive growth going forward.
The Company anticipates issuing its FY24 Audited results before 30th May 2025.
Peter Lai, CEO and Founder of Majestic Corporation, commented:
"We are very pleased with the growth of Majestic over the past year. The hard work or our team has driven significant growth in our topline performance which in turn we anticipate to positively impact our bottom line. The growth of the Company has enabled access to wider markets and a greater array of participants in the recycling and circular economy further strengthening Majestic's position as a key player in the industry"
-Ends-
For further information, please visit www.majestic-corp.com, or contact:
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Majestic Corporation Plc Peter Lai (Founder and CEO) Andrew Male (Non-Executive Director) |
E: peter@majestic-corp.com
E: andrew@majestic-corp.com T: +44 (0)7926 397675
|
|
Guild Financial Advisory Limited - Corporate Adviser Ross Andrews Evangeline Klaassen |
T: +44 (0)7973 839767 E: ross.andrews@guildfin.co.uk
T: +44 (0)7972 841276 E: evangeline.klaassen@guildfin.co.uk |
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Oberon Capital - Corporate Broker Nick Lovering Adam Pollock Mike Seabrook |
T: +44 (0) 203 179 5300 |
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Redchurch Communications - Financial PR & IR John Casey / Nicky Bagheri |
T: +44 (0) 207 870 3974 E: mcj@weareredchurch.com |
About Majestic Corporation PLC
Majestic Corporation plc is an emerging leader in sustainable circular economy solutions, specialising in recycling and recovering precious and base metals from everyday materials such as electronics, catalytic converters, and solar and battery materials. The company serves some of the world's largest brands, including Original Equipment Manufacturers (OEMs), blue-chip multinational corporations, financial and leasing businesses, and state and federal governments.
Through its subsidiaries and affiliate companies in strategically located regions, including Europe, North America, and Asia (ex. China), Majestic procures, processes, and ships e-waste to smelter and refinery partners who extract precious and base metals for re-entry into global supply chains.
Majestic and its network's areas of focus include catalytic converters, printed circuit boards, solar panels, battery materials, precious metals recovery, and non-ferrous metals.
As Majestic continues to expand its footprint as a circular economy solutions provider, it remains committed to making a positive environmental impact, adhering to ESG values, and driving its business model through immediate and short-cycle cash flow, which strengthens the Company's performance and sustainability.
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