MOSCOW: Russian gold miner Nord Gold said on Monday its first-quarter net profit more than tripled year-on-year to $88.5 million from $24.6 million seen a year earlier, positively affected by higher refined gold production.
The net profit was also affected by the fact that some gold produced at the end of last year was sold in the first three months of 2014, the company said in a statement.
EBIDTA, or earnings before interest, taxes, depreciation and amortisation nearly doubled in the first quarter to $189.7 million.
Based on its results, the company recommended an interim dividend payout for the first quarter of $6.40 per share and global depositary receipt.
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