Record profit at African Barrick

African Barrick Gold said its profit rose to a record in the third quarter boosted by higher production and all-time high gold prices. Net profit jumped to $102m, beating the $99m consensus supplied by the company, from $40m in the year-earlier quarter as revenue surged 61 per cent. It produced 182,401 ounces of gold in the quarter and said it expects to meet its 700,000 to 760,000oz target for the year.