Newcrest Mining Posts FY Profit

Newcrest Mining Limited (ADR) NCMGY posted a profit in the 12 months ended June 30. Newcrest Mining posted a net profit of 546 million Australian dollars (US$403 million) for the full year, versus a year-ago loss of A$2.22 billion. Its profit margin expanded to around 23 percent, versus around 20 percent a year earlier. In the 12 months through June 2016, the company expects gold production of 2.4 million ounces to 2.6 million ounces. Chief executive Stephen Biswas said, "Newcrest remains focussed on further strengthening its balance sheet through safely maximising cash flow from operations and capital discipline." Newcrest Mining shares fell 0.74 percent to close at $8.10 on Friday.