Newcrest Mining Ltd
(ASX:NCM) has more than doubled its first half net profit to $437.8 million, on higher gold prices and improved gold production since the takeover of Lihir Gold.
In the six months to 31 December 2010, the gold miner says revenue rose 66 per cent to $1.97 billion while underlying profit was up 96 per cent to $523.1 million.
Assets acquired from the Lihir takeover contributed $139 million to Newcrest’s underlying profit.
Newcrest has declared an unfranked interim dividend of 10 cents per share.
The company has also today announced that it has appointed Greg Robinson as its new CEO, replacing Ian Smith from July.
In the 2010 financial year, Newcrest booked a net profit of $602 million.
