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New Hope Corporation Limited (ASX:NHC) has flagged job cuts while also announcing its output grew in the three months to the end of April.
The coal producer improved saleable coal production by 18 per cent to 1.43 million tonnes as the prior period was impacted by heavy rainfall.
Over the quarter coal sales dropped 17 per cent to 1.33 million tonnes due to the uneven timing of shipments.
New Hope says it has been proactively reviewing its cost structures due to the current downturn.
As a result the company says a number of positions will become redundant at its West Moreton operations and the corporate office.
New Hope reported a net profit of $22.7 million in the first half of the 2014 financial year.
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| NHC (ASX) Chart |