Northern Star in 'superb shape'

DESPITE a flat profit result, Northern Star Resources today unveiled game-changing exploration results from its world-class Jundee mine.

Northern Star in 'superb shape' Northern Star in 'superb shape' Northern Star in 'superb shape' Northern Star in 'superb shape' Northern Star in 'superb shape'

Northern Star posted a half-year net profit after tax of A$79.1 million, down 7% on the previous corresponding period due to the wind-down of the Paulsens mine.

Underlying free cashflow rose by 9% to $61.1 million and cashflow from operating activities was up by 14% to $126.8 million.

Earnings before interest, tax, depreciation and amortisation were $201.7 million and the EBITDA margin was 46.3% - or 50% when Paulsens was excluded.

The company increased its interim fully franked dividend by 50% to 4.5c, in line with its new policy of paying out 6% of revenue.

The dividend equates to $27 million, a drop in the ocean compared to the company’s cash and investments balance of...