Australian gold producer, Westgold Resources has reported a record underlying net profit after tax of $480-million for the year ended June 30, a 452% increase from the $87-million posted in the prior year.

The ASX- and TSX-listed company produced 387,354 ounces of gold during the 2026 financial year, up from 326,384 ounces in 2025. Operating cashflow surged 170% year-on-year to $964-million, allowing Westgold to declare a full-year dividend of $0.10 per share, compared with $0.03 in the previous year.

The company remains entirely debt-free and unhedged, with a closing treasury balance of $939-million as at June 30.

"The 2026 financial year was a landmark period for strong shareholder returns, improving operating consistency and a favourable gold price, which bode well for capacity to invest and grow," said managing director and CEO Wayne Bramwell.

Westgold returned $122-million to shareholders through dividends and share buybacks during the year, Bramwell added.

"We will continue to allocate capital to our largest and most productive assets in the 2027 financial year," Bramwell said.

The company operates the Murchison and Southern Goldfields operations in Western Australia. Its development pipeline includes the Bluebird-South Junction, Great Fingall and Beta Hunt projects.

Westgold is scheduled to publish its 2027 production guidance on September 9.