Randgold Resources profit rises 14% on higher production
Source - SMW
Randgold Resources posted a 14% rise in annual profit after it boosted gold production above its guidance.
Pre-tax profit for the year rose to $335m, as production rose by 5% to 1.315m ounces.
The company declared a final dividend of $2.00 per share, double that of 2016.
For 2018, Randgold forecast production of between 1.30m and 1.35m ounces at a total cash cost per ounce in the range of $590 to $640, taking into account the effect increases in the oil price and exchange rates.
'Beyond that, our 10-year business plan is designed to increase net cash flows to support dividend and value growth and maintain Randgold's position as a global industry leader in sustainable profitability,' chief executive Mark Bristow said.