Revenues from ordinary activities rose 67% to $A370.2 million attributable to record annual sales of five million tonnes. Record output was thanks to strong performances at flagship mine Coppabella and the first full year of production from Moorvale Mine.

Macarthur chief Ken Talbot said the company would remain focused on high growth sectors of the market.

“Our project pipeline comprises nine exploration prospects, three of which have coking coal. The prospects provide the opportunity to extend our product range to cover coking coal, low-volatile PCI coal and thermal coal,” he said.

"Our challenge is to develop these projects in a staged program that takes account of the infrastructure constraints impacting coal exports from the Bowen Basin.

"The metallurgical coal market remains robust and the sales outlook is positive. Price increases for the Japanese financial year, which commenced 1 April 2005, will be fully realised in the 2005-06 profit result."