Business

Gold price helps Newcrest FY profit

Gold miner Newcrest has suffered a fall in statutory profit for 2017/18 but higher gold prices have boosted underlying results.

Newcrest Mining has lifted full-year underlying profit by 16 per cent thanks to higher gold and copper prices but the miner's statutory result has been hit by writedowns and impairments.

In results released after the close of ASX trading on Wednesday, Newcrest reported a 34 per cent fall in full-year statutory profit to $US202 million ($275 million) for the year to June 30 as a result of $US257 million in significant items.

Sales revenue rose two per cent to $3.56 billion and the company declared a final dividend of 11 US cents, fully franked.

Stay up to date with SBS NEWS

  • App
  • Subscribe
  • Follow
  • Listen
  • Watch