Evolution doubles profits

Australian gold producer Evolution Mining has more than doubled its underlying net profit for the financial year ended June, as the company’s focus on cost reduction and improved efficiencies paid off. Underlying net profit for the year reached a record A$106.1-million, compared with the A$50-million reported the year before, while earnings before interest, taxes, depreciation and amoritsation increased by 28% to A$266.4-million.