GG
MELBOURNE (Dow Jones)--Macarthur Coal Ltd. (MCC.AU) said Wednesday its profit for the first half of fiscal 2010 is likely to be down sharply on year to between A$30 million and A$38 million.
This is well below the A$106.9 million posted in the first half of fiscal 2009 and Macarthur said this was due to significantly lower Japanese financial year sales prices and the impact of the stronger Australian dollar.
Macarthur Coal Chief Executive Nicole Hollows said that, while the company's mines are now back to full production, there remains uncertainty about the level of sales for the second half of fiscal 2010 due to infrastructure bottlenecks and the forthcoming wet season.
Infrastructure constraints and uncertainty about the next Japanese financial year sales price meant the company could not yet give guidance on full year profit, she said.
Hollows told shareholders at the company's annual general meeting that the miner's full year sales target remains unchanged at 4.6 million metric tons, with first half sales expected to be between 2.4 million and 2.7 million tons.
-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094; [email protected]
- Forums
- ASX - Day Trading
- daytrade diaries... november 18 part 2
daytrade diaries... november 18 part 2, page-49
-
- There are more pages in this discussion • 47 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online