Plus   Neg

Randgold Resources FY Profit Rises; Gold Sales Up 7% - Quick Facts

Randgold Resources Ld (GOLD,RRS.L) reported profit for the year ended 31 December 2017 of $335.0 million, an increase of 14% from previous year, resulting from increased production and revenue and lower cash costs per ounce of production, partially offset by a 4% increase in depreciation and the 35% increase in corporate tax expenses for the year. Profit to shareholders increased to $278 million from $247.5 million. Earnings per share was $2.92 compared to $2.61.

For the year ended 31 December 2017, Gold sales were $1.65 billion, up 7% from the previous year principally as a result of the 6% increase in the number of ounces of gold sold across the group, as well as a slight increase in the average gold price. Group sales were $1.31 billion compared to $1.24 billion. Total revenue was $1.28 billion compared to $1.20 billion, last year.

For 2017, gold production rose 5% to 1.315 million ounces, ahead of its guidance, while shrinking total cash cost per ounce by 3% to $620. For 2018, Randgold expects production of between 1.30 and 1.35 million ounces at a total cash cost per ounce in the range of $590 to $640, taking into account the effect of the current increases in the oil price and the euro:dollar exchange rate.

The board has proposed a dividend of $2.00 per share, double that of 2016, for shareholders' approval. The company anticipates, subject to shareholder approval, paying the final cash dividend on 18 May 2018. The ex-dividend date is 22 March 2018 and the record date for the dividend is 23 March 2018.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Lowe's Companies, Inc. (LOW) reported first-quarter net earnings of $988 million or $1.19 per share compared to $602 million or $0.70 per share, a year ago. On average, 25 analysts polled by Thomson Reuters expected the company to report profit per share of $1.27 for the quarter. Analysts' estimates... Tesla Inc.'s (TSLA) mass-market Model 3 sedan, which will be available in two new versions with dual motors and all-wheel drive in July, has failed to earn a recommendation from Consumer Reports. Department store chain Kohl's Corp. reported financial results for the first quarter that beat analysts' estimates. Meanwhile, off-price retailer TJX Companies, Inc. reported adjusted earnings for the first quarter that missed analysts' expectations, even as its revenues beat estimates. Both the companies raised their earnings outlook for the full year.
Follow RTT