Newcrest Mining Ltd
(ASX:NCM) says the 2010 financial year has been a successful one for the miner, reporting record operating and net profit results as well as operating cash flow exceeding $1.3 billion.
The gold and copper producer has posted a 58% increase in underlying profit to $764 million for the year to 30 June, while net profit increased 124% to $557 million.
A final unfranked dividend of 20 cents has been declared, increasing the full year dividend by 67% to 25 cents per share.
Newcrest says the significant increase in underlying profit is due to increased gold production, lower operating costs and higher commodity prices.
Looking ahead Newcrest says production output is likely to grow, forecasting gold production to increase from 1.76 million ounces in 2010 to a range of 1.85 to 1.95 million ounces in the year to come.
Newcrest Mining reported a profit of $248 million for the year to 30 June 2009.
