AngloGold Ashanti reports record profits and strong share price growth

ANGLOGOLD Ashanti’s share price continued a 12-month rally on Friday, gaining a strong 6.39% after it reported a 151% increase in second-quarter profit on record gold prices and higher production.

- EDWARD WEST

The share price rise to R877.96 added to a more than 74% rally in the price over 12 months. A second quarter dividend of 80 US cents per share was declared, substantially up from 22 cents at the same time last year. The group has since 2021 returned about $1.2bn to shareholders, and the total dividend for the second quarter amounted to $406 million.

The gold miner’s headline earnings increased to $639m in the three months to June 30, from $255m in the same period a year before.

"This is another strong result that demonstrates our focus on cost control and the positive momentum we're building across the business. We're reaping the benefit of consistent production and cash flow growth, supported by disciplined capital allocation," said CEO Alberto Calderon.