Newcrest Mining (NCM) has reported a fall in underlying profit to $451 million in the year ending June 30, compared to a $1.084 billion profit 12 months...

Newcrest Mining (NCM) has reported a fall in underlying profit to $451 million in the year ending June 30, compared to a $1.084 billion profit 12 months earlier. The miner announced $6.23 billion in write downs for the period which related to impairments and asset write downs, including a $273 million write down of its investment in Evolution Mining Limited (EVN), in addition to restructuring costs of $51 million. Investors were encouraged by expectations for a near halving of capital expenditure in the year ahead. for more go to Investing.commsec.com.au/reportingseason