Randgold profit hit by drop in gold prices

|About: Randgold Resources Limited (GOLD)|By:, SA News Editor

Randgold Resources' (GOLD) 2013 EPS of $3.02 beats by $0.19.

Net profit dropped to $278.4M from $431.8M a year earlier, with a 17% fall in gold prices offsetting record production.

Pretax profit $402.5M vs $547.8M.

Gold sales flat at $1.27B.

Randgold produced 910,374 troy ounces of gold vs 794,844 ounces a year earlier.

Gold sales 920,248 ounces vs 793,852 ounces.

Cash costs fell 2.7% to $715 an ounce.

Expects to increase gold production by 25-30% in 2014. (PR)

To keep final dividend for the year at $0.50 a share. (PR)

Shares +2.4% in London.