Newcrest H1 profit slumps

Gold miner declines to pay interim dividend, maintains full-year production guidance; revenue lifts in first-half.

Newcrest Mining (NCM) has maintained its full-year production guidance and says its on track to be free cash flow positive in fiscal 2014, despite posting a fall of almost 90% in first-half net profit.

In the six months to December 31, Newcrest posted a net profit of $40 million, an 88% decline on the $323 million profit in the previous corresponding period.

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