News: NCM UPDATE 1-Australia's Newcrest reports record full-year profit on gold price surge

(Adds realised prices, production outlook, background on gold prices)

Aug 19 (Reuters) - Australia's Newcrest Mining Ltd (NCM) reported its best annual profit on Thursday, as the country's largest listed gold miner benefited from higher prices of the precious metal.

Prices of safe-haven gold XAU= rose more than 25% in 2020 due to pandemic-led uncertainty, but they have eased this year as a global economic recovery gathers steam.

Melbourne-based Newcrest netted $1,796 for each ounce of gold it sold in fiscal 2021, compared with $1,530 per ounce a year earlier.

That helped its underlying profit rise to $1.16 billion in the 12 months to June 30, from $647 million a year earlier. Analysts on average expected $1.17 billion, according to Refinitiv IBES data.

Newcrest declared a final dividend of 40 cents a share, compared with 25 cents a year earlier and analysts' estimates of 33 cents.

However, the miner forecast lower gold output for fiscal 2022 as it expects production to weaken at its Cadia mine.