News: Macarthur Coal FY profit jumps 93%

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Macarthur Coal Limited’s (ASX:MCC) full year net profit has jumped 93 per cent to $241.4 million, coming in at the lower end of its guidance. 



The Queensland focused coal miner’s result was boosted by higher prices for its products and its sale of a 20 per cent stake in the Middlemount coal mine to Gloucester Coal Limited (ASX:GCL).



Macarthur recently received a $4.7 billion takeover bid from Peabody Energy and ArcelorMittal which the bidders took hostile earlier this month. 



Macarthur has today advised that it is continuing discussions with a number of interested parties in relation to alternative proposals.



A final fully franked dividend of 16 cents has been declared, taking the full year payout to 40 cents per share.