African Barrick Posts Decline In Q1 Earnings

African Barrick Gold PLC ABGLY reported a drop in its first quarter earnings. African Barrick's net profit attributable to shareholders fell 30% y/y to $35.2 million. Its basic earnings per share came in at 8.6 U.S. cents, versus analysts' estimates of 10.3 U.S. cents. Attributable gold production fell 17% to 144,643 troy ounces. African Barrick's quarterly sales came in at $268 million. Its earnings before interest, taxes depreciation and amortization (EBITDA) fell 15% y/y to $90 million, versus analysts' estimates of $98 million.