Barrick Gold Corporation (ABX) swung to a net profit for the year ended Dec. 31, 2016. The company has made a net profit of $655 million, or $ 0.56 a share in the year, against a net loss of $2,838 million, or $2.44 a share in the last year.
Revenue during the year dropped 5.22 percent to $8,558 million from $9,029 million in the previous year. Gross margin for the year expanded 1334 basis points over the previous year to 36.84 percent. Operating margin for the year period stood at positive 33.51 percent as compared to a negative 24.10 percent for the previous year.
Operating cash flow declines
Barrick Gold Corporation has generated cash of $2,640 million from operating activities during the year, down 5.51 percent or $154 million, when compared with the last year.
The company has spent $412 million cash to meet investing activities during the year as against cash inflow of $250 million in the last year. It has incurred net capital expenditure of $991 million on net basis during the year, down 40.66 percent or $679 million from year ago.
The company has spent $2,297 million cash to carry out financing activities during the year as against cash outgo of $3,275 million in the last year period.
Cash and cash equivalents stood at $2,389 million as on Dec. 31, 2016, down 2.69 percent or $66 million from $2,455 million on Dec. 31, 2015.
Debt comes down
Barrick Gold Corporation has recorded a decline in total debt over the last one year. It stood at $7,931 million as on Dec. 31, 2016, down 20.44 percent or $2,037 million from $9,968 million on Dec. 31, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
