Sinon activez ce lien:
?code=9c8125c1efbb5ead09898213bc5d01fd&addr=worldshippingnews.abcd123%40blogger.com&
Newcrest shines with record profit
NEWCREST Mining’s profit soared 124 per cent on higher gold sales and prices, as the miner remained confident of taking over Lihir Gold. Australia’s largest gold miner revealed today that net profit for the year ended June 30, more than doubled to a record $556.9 million, from $248.1m a year earlier.
On an underlying basis, profit after tax was up a better-than-expected
58.1 per cent to $763.7m, from $483.1m last year. The market had
expected an underlying result of $681.37m.
Chief executive Ian Smith said it had been a “very successful year” for the gold miner.
“It is a solid result and the last 12 months has put us in a position
where we have a great basis to move forward over the next 10 to 15
years,” he said.
“We have enhanced profit points, contained costs and produced a strategic plank for growth.”
The company said sales revenues rose 10.7 per cent to $2.80 billion,
from $2.53bn the previous financial year. The average price for gold
sold during 2009-10 was $1252 per ounce, 7.1 per cent higher than the
prior year.
Mr Smith said today he was confident of completing the $9.7bn takeover
of rival Lihir Gold and would update the market early next year on new
guidance of the merged entity.
“Two weeks from today, all going well, we will take over day to day
management of Lihir and a fortnight after that will be the wrap up of
the whole transaction,” he said.
The positive result saw Newcrest’s shares rise 1.56 per cent to $35.24
by early afternoon, in an Australian market 0.68 per cent lower.
The gold giant also released an increase in its resources and reserves
and said it would continue to focus on growth through further
exploration.
Gold reserves increased 11 per cent to 47.3 million ounces and copper
reserves increased 69 per cent to 7.88 million tonnes, while gold
resources increased 5 per cent to 83.6 million ounces and copper
resources increased 20 per cent to 17.25 million tonnes.
Goldman Sachs analysts said the additions to the resource and reserve
statement this year were a clear indication of the “abundance of organic
growth options open to Newcrest”.
“This resource and reserve statement is positive, and complements the
FY10 financial result,” the analysts said in a brief client note on the
results.
Newcrest will pay investors a final unfranked dividend of 20c per share,
increasing the full year dividend by 67 per cent to 25c a share.
The company also said that gold production of 1.76 million ounces was up
8 per cent on 2008-09 output, with record production achieved at its
Telfer mine in Western Australia and Gosowong operations in Indonesia.
Cooper production of 86,816 tonnes, which was in line with guidance.
Gold production next year is expected to increase to a range of 1.85 million ounces to 1.95 million ounces.
Source: The Australian
No comments:
Post a Comment