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Randgold Resources’ fourth-quarter profit rose fourfold after production increased and gold prices gained, the London-listed group said yesterday. Net profit climbed to $115.5 million (R863m) from $26.8m a year earlier. Sales more than doubled to $313.6m. Randgold, which produced 696 023 ounces of gold in 2011, targets output of between 825 000 and 865 000 ounces of the precious metal this year. The group plans to produce 950 000 ounces next year and 1.2 million ounces in 2015. Shares were up 2 percent by 4pm in London. – Bloomberg
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