Newcest mining: Increased profit amid increased efficiency & gold price

Company News

by Jessica Amir

Newcrest Mining Limited (ASX:NCM) has announced its underlying profit hit US$273 million in the six months to 31 December 2016, which is a 333% rise from the prior corresponding period. 

The gold miner and developer says its results strengthened on the back of increased gold and copper production, while it also reduced its production costs amid increased efficiency. 

The operational improvements combined with a higher gold price also bolstered the miners half year report card. 

The company also experienced a 23% rise in its EBITDA margin and a 2% increase in its free cash flow, both compared to the prior corresponding period. 

 

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