Newcrest Mining Limited’s
(ASX:NCM) half year net profit has fallen 51 per cent to $320 million.
Sales revenue for the six months to the end of December dropped 23 per cent, totalling $1.8 billion.
The gold and copper miner says the strength of the Australian dollar as well as PNG and Indonesian currencies continue to weigh on its operations in those areas.
Newcrest expects margins and profitability to improve with a more benign cost environment and other operational improvements.
The company says fiscal 2013 is a big year for its operations, with the completion of its two major growth projects set to establish a platform for significant production growth over the next five years.
