Evolution swings to full-year profit

Evolution Mining swings back to profit with a $217.6 million full-year result, helped by higher production following the acquisition of the Ernest Henry mine.

Evolution Mining has swung to a full-year profit of $217.6 million from a $24 million loss a year ago, as the Ernest Henry mine acquisition helps lift gold production.

Sales revenue for the year to June 30 was 11 per cent higher, at $1.48 billion.

The company declared a fully-franked final dividend of three cents a share, up one cent on last year, as part of its new policy to pay shareholders 50 per cent of after-tax earnings.