Newcrest Mining Record Profits

Submitted by Share Trading on 16 August, 2010 - 11:02

Australian Gold and Copper mining company, Newcrest Mining (ASX:NCM) have announced record profits, more than doubling their net profits to $556.9 million. For the year ended 30 June 2010 Newcrest reported Underlying Profit of $763.7 million, an increase of 58% over the prior year result of $483.1 million. The company pinned down the reasons for the significant increase in profit to "increased gold production, lower operating costs and higher commodity prices."

Newcrest Dividends

Newcrest have announced a final dividend of 20 cents per share unfranked, with the full year dividend totalling 25 cents per share. Up 5 cents from the corresponding period last year.