viewNorthern Star Resources Ltd

Northern Star Resources Ltd records 65% rise in FY16 net profit, lifts dividend


Northern Star Resources Ltd (ASX:NST) has recorded an unaudited FY16 net profit after tax of A$151. Million, a 65% increase on FY15.

This drove FY16 earnings per share (EPS) to $0.252, up 62% on FY15.

The profit reflects strong gold sales of 561,153 ounces at an all-in sustaining cost (AISC) of A$1,041 per ounce, down from A$1,065 per ounce in FY15.

Northern Star remains debt free with cash and equivalents of
A$326 million, up from A$178 million a year earlier.

In light of this strong balance sheet, Northern Star has increased its final dividend by 33% to $0.04 from $0.03, lifting the full-year fully franked dividend to $0.07 from $0.05.

Bill Beament, managing director, commented: “The strong operational performance, including further cost reductions, underpinned a record profit.

“Most importantly, we achieved this significant growth in profit, cash holdings and the dividend while generating a 39 per cent return on equity and a return on invested capital of 28%.

“This is one of the highest rates of return of any ASX-listed company and is the key barometer of a company’s performance.”

Northern Star has a portfolio of low-cost, high-grade underground gold mines located in Western Australia and Northern Territory.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Northern Star Resources Ltd

Price: 12.74 AUD

Market: ASX
Market Cap: $9.35 billion

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