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New Hope's annual profit drops on lower coal prices

17th September 2024

By: Reuters

  

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Australia's New Hope reported an annual profit on Tuesday that fell 56.2%, hurt by lower average realised prices of coal.

The miner reported a full-year net profit attributable of A$475.9-million, compared with A$1.09-billion a year earlier.

New Hope's average realised prices during the reported period fell to A$183.25 per ton from A$346.73 per ton in 2023, while its saleable coal production for the year increased 26% to 9.1-million metric tons.

The company declared a final dividend of 22 Australian cents, compared with 21 cents a year earlier.

Edited by Reuters

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