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Northern Star FY profit jumps 65 pct

AAP logoAAP 25/07/2016

Gold miner Northern Star Resources has posted a 65 per cent jump in full-year profit on the back of higher gold prices and a reduction in costs.

The Western Australia-based company on Tuesday reported a net profit of $151.4 million for the year ending June 30, up from $91.9 million. Revenue rose five per cent to $887.4 million.

Last week, the miner said its full-year sales volume totalled 561,153 ounces despite a weaker-than-expected June quarter. The figure was well within the guidance range of 535,000-570,000 ounces.

"The strong operational performance, including further cost reductions, underpinned a record profit," managing director Bill Beament said.

Northern Star said it would lift its fully-franked final dividend to four cents, from three cents.

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