Shareholders of Newcrest Mining Ltd are in for good news after the gold miner reported on Monday achieving a $1.12 billion profit for the year to June 30, its second year in a row.

Based on Bloomberg calculations, an underlying profit of $1.08 billion already compares with market consensus for a $1.05 billion profit. While UBS and Merrill Lynch sought $1.06 billion and $1.04 billion, respectively.

Nonetheless, the final dividend of 23 cents will take annual dividend to soar to 35 cents, up 17 per cent, compared to market expectations of 24 cents a share total payment.

This also meant more cash on hand that can be used to finance capital expenditure. Australia's biggest listed goldminer had said it expects to spend $5 billion over the next five years to boost gold output by 1 million ounces.

According to Managing Director Greg Robinson, Newcrest Mining Ltd expects to see production rise to as much as 3.5 million ounces annually by 2017, compared a target of 2.3 million to 2.5 million ounces for fiscal 2013.

Immediately, shares of Newcrest Mining Ltd jumped 82 cents, or 3.4 per cent, in early trade to $25.15.

The world's No.3 gold miner attributed its favourable performance on the high gold price, which likewise pumped revenues to jump 8 per cent to $4.4 billion even as sales volumes dropped by 6 per cent.

The gold price, which reached its record high in September 2011 of just over $US1900 per ounce, was 6.5 per cent higher to the end of June.