Whitehaven Coal reports better-than-expected first-half profit (updated)

Whitehaven Coal

19/02/2025 23:19

(Updates paragraphs 1 - 5 with more detail on results)
       Feb 20 (Reuters) - Australia's Whitehaven Coal  WHC.AX 
reported better-than-expected first-half earnings on Thursday,
helped by a rise in production and sales due to strong
contributions from its mines in New South Wales.
        "Operational performance at Daunia and Blackwater – and
across our NSW mines – has been in line with or better than
plan, and demand for Whitehaven's metallurgical and thermal coal
products continues to prove strong," CEO Paul Flynn said in a
statement.
  
        The country's leading independent coal miner said
revenue for the first half of fiscal 2025, ended December 31,
nearly doubled to A$3.4 billion ($2.16 billion) from A$1.6
billion last year. 
  
        The average price for coal sold during the half-year
also rose 5% to A$232 per tonne.
  
    Underlying net profit after tax was A$328 million ($208.15
million) for the six months, beating the Visible Alpha consensus
of A$219 million.
    The firm also declared an interim dividend of 9 Australian
cents apiece. 



($1 = 1.5763 Australian dollars)

 (Reporting by Nichiket Sunil and Rishav Chatterjee in
Bengaluru, Editing by Mohammed Safi Shamsi)
 ((Nichiket.Sunil@thomsonreuters.com;
Rishav.Chatterjee@thomsonreuters.com))