CANBERA (dpa-AFX) - Australia's Newcrest Mining Ltd (NCM.AX, NCMGF.PK, NCMGY.PK) Friday posted higher profits for the full year, with revenue growth of 5 percent. The company also declared a final dividend and said its Dividend Reinvestment Plan will apply to the final dividend.
For the year, the statutory profit rose 15 percent to $647 million. This includes significant items totaling $103 million, which represents the write-down of assets relating to the divestment of Gosowong, transaction and integration costs in relation to major M&A activity, and one-off finance costs arising from the early repayment of existing corporate bonds, the Group said.
Underlying profit grew 34 percent to $750 million, driven by a higher realized gold price, higher copper production at Cadia and Telfer, the favourable impact on operating costs for the Australian operations from the weakening of the Australian dollar against the US dollar and a lower depreciation expense.
The Group's total revenue for the full year rose by 5 percent to $3.922 billion from last year's $3.742 billion.
In addition, Newcrest said its Board determined a final fully franked dividend of 17.5 cents per share, to be paid on September 25, 2020. The record date for entitlement is August 24. The Group said its Dividend Reinvestment Plan remains in place and that total dividends for 2020 amounts to 25 cents per share.
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