Newcrest Mining (ASX: NCM) captures good earnings as Antofagasta plc (LON: ANTO) climbs

Newcrest Mining Limited earnings rise

In brief: Newcrest Mining Limited (ASX: NCM) half-year profit rose more than threefold. Antofagasta plc (LON: ANTO) shares rising in price rapidly.

Antofagasta plc (LON: ANTO) catches a bullish trend against the background of increasing demand for metals. Antofagasta shares reached 1,003.00 points, gaining +12.50 (1.26%). Australian good news support the stock market also.

Australia’s largest gold producer Newcrest Mining reported a more than threefold increase profits for the second half thanks to higher prices and increased production volumes. Thus, the net profit for the six months to end June 30 rose to $ 105 million a year earlier to A $ 380,7 million ($ 340 million). Annual revenue reached a record level of $ 556.9 million, double the result of last year to $ 248.1 million, and surpassed analysts’ forecasts of $ 510.2 million.

Anrey Torbinski
2010-08-16 10:57, Economics.

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