SAINT HELIER (dpa-AFX) - Gold producer Randgold Resources Ltd. (RRS.L, GOLD) reported that its profit before income tax for the second-quarter increased to $150.16 million from $80.30 million last year.
Profit attributable to owners of the parent was $84.03 million or $0.88 per share up from $49.03 million or $0.52 per share in the prior year, reflecting the increase in profit from mining, partially offset by the increased depreciation charge.
Chief executive Mark Bristow said, 'At this stage the outlook is positive, and Randgold is trending towards the top end of its 2017 production guidance range at a total cash cost below $600 per ounce.'
Total revenues for the quarter grew to $336.79 million from $276.84 million in the prior year.
Gold sales for the quarter of $422.1 million increased by 3% from $409.6 million in the previous quarter. Group sales for the quarter of 336 516oz was in line with the previous quarter.
Copyright RTT News/dpa-AFX