Macarthur Coal has recorded a net profit of $ 39.6 million for the six months ended December 31, to 63 percent $ 106.9ma year earlier due to lower coal prices. CEO Nicole Hollows said the company was on track to reach full year sales guidance of 4.8 million to 5 million tons and the coal market has been benefiting from the global recovery of production steel.
Ms Hollows said takeover bid for Macarthur Coal and Gloucester’s proposed acquisition of the rest of the Middlemount coal project were subject to conditions and that the company was now working through these conditions.
Revenues half fell by 24 per cent to $ 318.5m from $ 419ma year earlier and the minor said he would not pay an interim dividend in line with last year.
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