By Sabela Ojea
AngloGold Ashanti Ltd. reported on Friday a decline in net profit for the first half of 2022 and said that it is on track to meet guidance ranges for 2022, with total cash costs reaching the top end of guidance.
The gold-mining company posted a net profit of $298 million compared with $362 million for the same period a year earlier.
Headline earnings--one of the company's preferred metrics, which strips out exceptional and other one-off items--fell to $300 million from $363 million a year earlier.
The company said that it produced 1.2 million ounces of gold in the period, with second-quarter output up 10% versus the first quarter of 2022. "Production growth [of 3% on year] was underpinned by higher grades and tonnes processed, leading to marked improvements from the Australian and Latin American operations, which offset lower production from Kibali and Geita," it said.
The board has declared an interim dividend of 29 cents a share from 6 cents a year earlier.
Write to Sabela Ojea at email@example.com; @sabelaojeaguix
(END) Dow Jones Newswires
August 05, 2022 01:37 ET (05:37 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.