Performance in Brief
- Full year after tax profit was A$122.9 million
- A 5 cent fully franked final dividend declared
- 761,780 ounces of gold and 84,758 tonnes of copper produced
- Group cash costs further reduced to A$119 per ounce reflecting the good operational result and the strong by-product copper contribution
- Total costs reduced to A$268 per ounce
- Ridgeway performed strongly with 438,026 ounces of gold and 47,378 tonnes of copper produced
- Mining production at Toguraci commenced in February 2004 under challenging conditions
- The Telfer project continued through the construction phase and is nearing completion
- The Cracow development commenced in September 2003
- The Newcrest hedge book was comprehensively simplified and copper hedged to maintain strong by-product revenue
- Overall safety performance improved, but a fatality at Toguraci marred the Group’s safety performance
 |
 |
 |
 |
| 12 months to 30 June 2004 | 12 months to 30 June 2003 | ||
|---|---|---|---|
| Gold produced | (ounces) | 761,780 | 714,377 |
| Copper produced | (tonnes) | 84,758 | 67,738 |
| Gold price realised | ($ per ounce) | 579 | 567 |
| Sales revenue | ($ million) | 711.4 | 607.2 |
| Earnings before significant items, borrowing costs, tax, depreciation and amortisation | ($ million) | 292.9 | 195.9 |
| Net profit after tax attributable to members of the Company | ($ million) | 122.9 | 92.2 |
| Capital expenditure (cash flow basis including exploration) | ($ million) | 753.4 | 265.3 |
| Basic earnings per share | (cents per share) | 37.5 | 29.6 |
| Return on capital employed (ROCE) excluding significant items (EBIT before significant items/average capital employed) | (percent) | 9.0 | 6.6 |
| Net debt/net debt plus equity | (percent) | 48.9 | 30.3 |
(All $ are Australian denominated unless specifically stated otherwise.)