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Profit, dividend soar

WESTERN Areas has posted a leap in full-year net profit after beating nickel production targets at two of its mines in Western Australia.

WESTERN Areas has posted a leap in full-year net profit after beating nickel production targets at two of its mines in Western Australia.

Net profit for the year to June 30 was $135 million, up from $14.2 million for the previous financial year. The shares gained 39?, or 7.4 per cent, to close at $5.67.

The Perth-based company declared an unfranked final dividend of 15? a share, bringing the full-year payout to 25? unfranked, compared with 6? in the 2010 financial year.


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