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Newcrest Mining Full Year Underlying Profit Rises 58% - Quick Facts

(RTTNews) - Australia's gold mining company Newcrest Mining Ltd (NCMGY.PK) reported that full year statutory profit grew 124% to A$556.9 million from A$248.1 million last year.

Underlying profit was A$763.7 million, 58% higher than A$483.1 million in the previous year. Earnings per share on underlying profit were 158.0 cents, compared to 103.2 cents in the prior year.

Gross Operating Sales Revenue was A$2.80 billion, up 11% from A$2.53 billion a year earlier. Gold sales rose to A$2.13 billion from A$1.91 billion in the prior year.

Gold production of 1,762,200 ounces was 8% higher than the previous year with record production achieved at Telfer and Gosowong. Copper production of 86,816 tonnes was in line with annual guidance.

The Board has determined that a final unfranked dividend of 20 cents per share will be paid for the year. For non resident shareholders the dividend will be paid from conduit foreign income and is exempt from withholding tax. The dividend is payable to shareholders on 22 October 2010.

Gold production in the 2011 financial year is expected to increase from 1.76 million ounces in 2010 to a range of 1.85 - 1.95 million ounces. Copper production is estimated to decline from the 2010 level of 86.8 thousand tonnes to 80 - 86 thousand tonnes.