Half Year Report for Period Ended 31 Dec 2024

Open PDF
Stock Northern Star Resources Ltd (NST.ASX)
Release Time 13 Feb 2025, 8:21 a.m.
Price Sensitive Yes
 Northern Star Reports Strong H1 FY25 Results
Key Points
  • Revenue up 28% to $2,868.9M
  • Profit after tax up 155% to $506.4M
  • Interim dividend of 25 cents per share
Full Summary

Northern Star Resources Ltd has reported a strong financial performance for the half year ended 31 December 2024. Revenue increased by 28% to $2,868.9 million, driven by a 24% increase in the average realised gold price to $3,562 per ounce. Profit after tax was up 155% to $506.4 million. Cash earnings increased by 63% to $1,145.9 million. The company invested $122.6 million in exploration activities during the period as it focuses on life-of-mine extensions and in-mine growth. Northern Star's balance sheet remains strong, with cash and bullion of $1,214.9 million at 31 December 2024. The company has recommended an interim unfranked dividend of 25 cents per share, representing a 25% payout of cash earnings for the period. In addition, Northern Star announced it has entered into a binding agreement to acquire 100% of De Grey Mining Ltd by way of a scheme of arrangement, which is expected to be implemented in May 2025.

Guidance

Northern Star expects to pay an interim unfranked dividend of 25 cents per share for the half year ended 31 December 2024, to be paid on 27 March 2025.

Outlook

Northern Star remains focused on delivering strong operational performance, investing in exploration to extend mine lives, and pursuing value-accretive growth opportunities such as the proposed acquisition of De Grey Mining.