Coal Price Brings New Hope Reprieve After Three Tough Years
New Hope’s profitability has bounced back with fiscal 2017 off to a strong start. The company guides to first-half adjusted NPAT of AUD 50 to AUD 54 million. Stronger-than-expected guidance reflects a greater proportion of coal being sold at the higher spot price than we thought, and a return to better coal yields at New Acland, after a weak fiscal 2016, due to more favourable mining conditions. The result is a rapid turnaround from an adjusted net profit of just AUD 5 million in fiscal 2016.Ou...
New Hope operates four reportable segments: Coal mining in Queensland (including mining related exploration, development, production, processing, transportation, port operations and marketing); Coal mining in New South Wales (including mining production, processing, transportation and marketing); Oil and gas (including oil and gas related exploration, development, production and processing); and Treasury and investments (including cash, held to maturity investments and available for sale financial assets).
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