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Randgold's Q1'16 profit up YOY to US$54.4M

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Randgold's Q1'16 profit up YOY to US$54.4M

RandgoldResources Ltd. said May 4 that its profit attributable toshareholders grew to US$54.4 million in the first quarter from in the previousyear.

Basic EPS went up to 58 cents from 52 cents.

Gold sales, at US$345.8 million, were in line with theyear-ago number, at US$344.6 million.

The group produced 291,912 ounces of gold, up from 279,531ounces last year. It sold more gold at 291,385 ounces from 283,624 ounces.

Randgold cut its total cash costs to US$189.0 million fromUS$200.8 million. Exploration and corporate expenditure inched up to US$8.9million from US$8.7 million.

Net cash generated from operations decreased 6% year overyear to US$95.8 million, primarily reflecting increases in operating workingcapital. Cash and cash equivalents increased to US$253.8 million from US$141.2million.

The board's proposal of a final cash dividend of 66 cents per sharefor 2015, a 10% increase on 2014's 60 cents per share, gained shareholderapproval on May 3.

Randgold reaffirmed its plan to continue paying aprogressive ordinary dividend that will increase or at least be maintainedannually.