Northern Star reveals profit surge

Gold miner Northern Star Resources has posted a 65 per cent jump in full-year profit on the back of higher gold prices and a reduction in costs.

The Western Australia-based company reported a net profit of $151.4 million for the year ending June 30, up from $91.9 million. Revenue rose 5 per cent to $887.4 million.

Last week, the miner said its full-year sales volume totalled 561,153 ounces despite a weaker-than-expected June quarter.

The figure was well within the guidance range of 535,000-570,000 ounces.

"The strong operational performance, including further cost reductions, underpinned a record profit," managing director Bill Beament said.

Northern Star said it would lift its fully-franked final dividend to 4 cents, from 3 cents.

Shares in the gold miner were 1.5 per cent higher to $4.80 each at 9:30am.