Australian gold producer Westgold posts record underlying net profit of $480m
ASX- and TSX-listed Westgold Resources has reported a 452% year-on-year increase in its underlying net profit after tax (NPAT) to $480-million in the year ended June 30 on the back of record gold production.
The company produced 387 354 oz in the year, compared with 326 384 oz in the prior year, which generated underlying NPAT of $87-million.
The group's operating cashflow increased by 170% year-on-year to $964-million, which allowed for a dividend of $0.10 to be declared for the full year. This compares to a dividend of $0.03 having been declared in the prior year.
Westgold remains 100% debt free and fully unhedged, with a closing treasury balance of $939-million as of June 30.
MD and CEO Wayne Bramwell says the 2026 financial year was a landmark period for strong shareholder returns, improving operating consistency and a favourable gold price, which bode well for capacity to invest and grow.
"We returned a record $122-million to shareholders through dividends and share buybacks in the year. We will continue to allocate capital to our largest and most productive assets in the 2027 financial year," Bramwell adds.
Westgold operates the Murchison and Southern Goldfields operations, in Western Australia, while its development projects include Bluebird-South Junction, Great Fingall and Beta Hunt.
Westgold will publish its 2027 production guidance on September 9.
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