AngloGold Ashanti Plc. (AGD.L,AU) on Friday reported higher profit in the first quarter, helped by strong results from its managed operations. The company also reaffirmed its outlook for fiscal 2025.
The gold mining company posted profit of $443 million in the first quarter, higher than last year's $58 million.
AngloGold Ashanti reported profit before tax of $729 million in the first quarter, up from $167 million in the same period in fiscal 2024.
The company's headline earnings rose to $447 million, or $0.88 per share during the three-month period from $58 million or $0.14 per share in the first-quarter last year.
The company's adjusted EBITDA surged 158 percent to $1.12 billion from $434 million in the previous-year quarter.
Total gold income for the period climbed to $1.93 billion from $1.14 billion a year ago.
Under a new dividend policy, the company announced a base dividend of $0.50 per share per annum, payable in quarterly instalments of $0.125 per share. An interim dividend of $63 million or $12.5 cents per share was declared for the first quarter.
Looking ahead, AngloGold Ashanti reaffirmed its guidance for fiscal 2025. The company continues to expect gold production in the range between 2.900Moz and 3.225Moz. Total cash cost per ounce is forecast between $1,125/oz and $1,225/oz for the year ahead.
In fiscal 2025, the company expects total capital expenditure between $1.62 billion and $1.77 billion.
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