Loss

21 Mar

AngloGold Ashanti Recorded $46M Loss In 2023

Wontumi1BusinessAnglogold Ashanti, Loss

AngloGold Ashanti lost $46 million or 11 US cents per share in 2023. This is compared to $489 million or 116 US cents per share, for the year ended December 31, 2022. According to its Full Year 2023 report, headline earnings were down year-on-year mainly due to lower gold sold (54 US cents per share), higher costs related to the corporate restructuring (taxes and fees) (75 US cents per share), higher care and maintenance and retrenchment costs, among others. These effects, it said, were partially offset by higher equity-accounted joint venture income (11 US cents per share), higher finance income…

03 Aug

ECG Records ¢1.9Bn Loss In 2021 – Auditor General Report

Wontumi1Business2022 Auditor General Report, current assets, current liabilities, ECG, Loss, total income

The Electricity Company of Ghana (ECG) recorded a loss of ¢1.913 billion in 2021 as against a profit of ¢822.549 million in 2020. This represented a 332.7% deterioration in the company’s financial performance. According to the 2022 Auditor General Report, total income of the company decreased by 13.7% to ¢12.104 billion in 2021. The fall in total income, the report said, was mainly due to the decrease in government grants. The grants were payments made to power producing companies by the government on behalf of Electricity Company of Ghana. The company also incurred a direct cost of ¢12.104 billion in…