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Coal & Allied managing director Doug Ritchie said the company’s net profit after tax was $146.5 million with its equity share of production increasing 3.9% to 11 million tonnes.
Production at its Mount Thorley, Warkworth and Hunter Valley operations was in line with the port and rail allocation, and production at the Bengalla mine increased towards the end of the first half of 2006 due to mining of more productive seams.
Sales revenue of $722.8 million was 6.4% more than the comparative period of 2005, reflecting higher prices partially offset by lower shipments in 2006, which were in line with the allocation set under the Port Waratah Coal Services capacity balancing system.
“Increased port and rail capacity from new investment is now expected to be available in early 2007,” Ritchie said.
Capital expenditure for the half year was $40.4 million compared with $16.4 million for the same period last year. Expenditure was mostly used for Mount Pleasant land acquisitions and major overhauls of draglines and shovels.
