Production and sales for the three months to December 31were well ahead of the previous corresponding quarter with increases of 60% and 63% respectively to 911,000t and 758,000t.
Year-to-date group production is 10% ahead of budget at 1.87 million tonnes with stockpiled coal rising in preparation for the planned Springvale longwall move in February. The relocation will reduce stockpiles more than 60% by the end of the March quarter, keeping production and sales in line with forecasts.
In November, Centennial said it expects a 20% increase above its prospectus forecast NPAT for fiscal 2002 of $17.8 million.
"Strong production and demand continues with all group mines performing well in this first half of fiscal 2002," the company said in its quarterly report.
"Furthermore the recent settlement of long-running price negotiations with Korea Southern Power Co resulted in a coal price increase for calendar2001 in line with the company's expectations."
