Shares in gold production and exploration company Northern Star Resources Ltd (ASX: NST) slid 0.9% to $6.04 today to coincide with its half-year results announcement which included a profit drop of 7%.
Share prices for Northern Star, whose flagship project is the Paulsens Gold Mine, have been tracking upwards steadily since this time last year, when they sat around $4.48, but today's results did not give investors the news they wanted.
Northern Star's NPAT was down 7% from the previous corresponding period to $79.1 million, with the company citing the wind down of Paulsens mine for blame. Operations at its Millenium mine are expected to boost NPAT for the second half.
Revenue was up 14% to $435.3 million, with cash flow from operating activities also up 14% to $126.8 million.
Northern Star is reported to be on track to meet FY18 guidance with plans to "capitalise on significant growth opportunities".
Shareholders will see a 50% increase in interim dividend to 4.5c per share fully franked.
