New Hope Corporation Limited (ASX: NHC) released its half year report to the ASX this morning.
New Hope Corporation is one of Australia’s largest coal and energy companies. Some of its operations include New Acland Mine, Jeebropilly Mine and New Oakleigh Mine.
Here are some of the financial highlights from its HY report compared to last year:
- Revenue increased by 36% to $509.4 million
- Day to day trading, or EBITDA, increased by 63% to $211.7 million (click here to learn what EBITDA means)
- Profit up 111% to $115.6 million
- Fully franked dividend of 6 cents per share
New Hope’s management said that this result was a combination of a 10% increase in sales, an increase in coal profit and a continued focus on cost management.
Managing Director Shane Stephan said: “Our focus for the future remains safe and efficient production at existing operations, enabling commencement of mining operations at the newly acquired Burton tenements, extending the life of current operations at New Acland and securing necessary approvals for the continuation of that mine.”
“We will continue our careful cost management over coming periods as improving commodity prices start to impact across the industry.” – Stephan
Takeaway
The New Hope share price is up 3.4% according to Google Finance. Investors appear optimistic about the coal company’s future, despite political and social pressure for governments to diversify away from the energy source.
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