August 3, 2011 / 9:24 PM / 6 years ago

UPDATE 1-New Gold profit lifted by gold price, higher ouput

(In U.S. dollars, unless noted)

TORONTO, Aug 3 (Reuters) - Miner New Gold NGD.TO said on Wednesday its second-quarter profit rose, largely due to a surge in the price of bullion and increased output.

Earnings excluding one-time items rose to $49.8 million, or 12 cents a share, up from a year-earlier profit of $14.1 million, or 4 cents a share.

Quarterly gold sales volumes rose 15 percent to 95,039 ounces, while revenues rose 52 percent to $171.6 million.

New Gold also reiterated that it expects to produce between 380,000 to 400,000 ounces of gold this year, at cash costs of $390 to $410 per ounce. (Reporting by Euan Rocha; editing by Peter Galloway)

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