At the AGM yesterday, MD Tony Haggarty said that for the current financial year, Excel Coal now expects to earn between $60-$70m compared with the forecast in the prospectus of $41m. The company has 193.4 million shares on issue, so that eps for the current year will be in the range of 31c to 36 cents per share.
Mr Haggarty also stated that new projects and planned expansions will see Excel's equity in production will increase from the current level of around 3.8 mtpa to around 14 mtpa over the next 5 years or so.
earnings forecast upgraded
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