Westgold Resources reported growth across key financial metrics for the fiscal year ended June 30.
The company saw a significant leap in its net profit after tax, escalating by 852% to reach $95 million.
In addition to the increase in NPAT, Westgold's free cash flow surged 760% to $86 million, following a $273 million investment in growth capital expenditures and exploration projects.
The company's EBITDA amounted to $271 million, reflecting a competitive EBITDA margin of 38%.
"FY24 was a watershed year for Westgold with the company delivering significant improvement across key financial metrics," commented Wayne Bramwell, managing director and CEO of Westgold Resources.
"The improvement is a testament to the hard work of our people and their commitment to our strategy which prioritises safe and profitable gold production,” Bramwell added.
Westgold also reported a 9% growth in revenue, which rose to $716 million, and announced dividends totalling 2.25 cents per share for the year.
The company's cash, bullion, and liquid assets increased 37% to reach $263 million.
Westgold Resources is a mid-tier gold producer and international gold company. The company is engaged in the exploration, development and operation of gold mines, primarily in Western Australia. The company owns and operates all of its underground and open pit mines.
Its operations include Murchison Operations, Meekatharra Gold Operations (MGO), Cue Gold Operations (CGO), Bryah Operations, Higginsville Gold Operations, Spargos Gold Mine, Beta Hunt Mine, and Lakewood Gold Mill.
At the time of reporting, Westgold Resources’ share price was $2.97.