INTERNATIONAL COAL NEWS

Currency fluctuations take their toll on BHPB

HIGHER coking coal sale volumes and increasing energy coal prices were not enough to offset the s...

Angie Tomlinson

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Attributable profit for the quarter came in at US$518 million against US$572 million in the same three-month period last year.

BHPB said this result reflects the unfavourable non-cash exchange impact of around US$215 million arising mainly from the translation of non-US dollar denominated net monetary liabilities.

Energy Coal contributed EBIT of US$41 million, down from US$68 million, a decrease of 39.7% compared with the corresponding period.

The decrease was attributed to the unfavourable impact of the stronger rand and US$ and the A$/US$ average exchange rates on operating costs.

Hunter Valley mines increased output made a favourable impact on EBIT.

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