Westgold Resources (ASX:WGX) recently announced an annual net profit of A$10 million, marking a significant turnaround from the previous year’s loss of A$111.1 million.

The firm’s revenue also increased slightly, rising from A$647.6 million to A$654.4 million during the same period.

However, the company has not declared a dividend for the year 2023.

Westgold Resources is an Australian-based company engaged in exploration, development and mining operations in Australia.