Eldorado Gold Corp. (EGO: Quote, ELD.TO) Friday posted a 2011 profit of $318.7 million, or $0.58 per share, compared to last year's $221.0 million, or $0.40 per share. The company noted that income tax expense went up 90 percent, in part due to withholding profit paid on dividends from its China and Turkey-based subsidiaries.
Revenues for the year jumped to $1.10 billion from the year-ago $791.2 million, with gold revenues rising 33 percent to $259.2 million. Gold price increased 29 percent, and sales volume edged up 3 percent.
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by RTT Staff Writer
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