AngloGold profit picks up on higher bullion, weaker currencies | Fin24
  • SAA

    Pravin Gordhan says while govt is committed to saving the airline, there's no room for more bailouts.

  • Andre de Ruyter

    Bondholders aren’t convinced that Eskom’s new chief executive officer is the best choice.

  • Illicit Tobacco Trade

    The SA Revenue Service says it is going to court to recover R200m in taxes in a decade-old case


AngloGold profit picks up on higher bullion, weaker currencies

Jul 22 2016 11:45
Ana Monteiro

Company Data


Last traded 289
Change -2
% Change -1
Cumulative volume 86002
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

AngloGold plans to buy back $475m of high-yield bonds

We use off-shore entities to mitigate 'double tax' - AngloGold Ashanti

AngloGold first-quarter earnings fall on output drop

AngloGold files dispute with Ghana on illegal miners

AngloGold concerned over Ghana mine looting

AngloGold returns to profit in fourth quarter


Johannesburg - AngloGold Ashanti [JSE:ANG] said it returned to profit in the first half as the world’s third-biggest producer of the metal benefited from higher bullion prices and weaker currencies in the countries it operates in.

Headline earnings were in a range of $87m to $99m in the six months ended June 30 from a loss of $128m a year earlier, the Johannesburg-based company said in a statement on Friday.

Gold, a haven in times of economic turmoil, has soared 25% this year as the US dialled back expectations for increasing interest rates, growth slowed in China and the UK’s vote to leave the European Union injected fresh uncertainty into global markets.

That’s helped AngloGold’s revenue, as did first-half weakness in the currencies of South Africa, Brazil, Australia and Argentina, countries where the company has mines.

Earnings were also boosted by a "continued focus on cost control across the portfolio," and a $33m saving on interest payments after the company bought back bonds that paid investors 8.5%.

The shares, which have almost tripled this year, climbed 2.27% to R301.78 at 11:40 in Johannesburg.

anglogold  |  mining  |  earnings reports


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote