News: NHC UPDATE 1-Australia's New Hope annual profit jumps on strong coal demand

(Adds background in paragraph 2 and further details about group performance in paragraphs 5-6)

Sept 19 (Reuters) - Australian miner New Hope Corp (NHC) posted a nearly 11% rise in its fiscal 2023 profit on Tuesday, boosted by strong demand and realised prices for coal.

Global coal consumption has hit a record high as strong growth in Asia outpaced a decline in the United States and Europe. The region also helped cap a decline in thermal coal prices.

New Hope sold each tonne of coal for an average A$346.73 during the year, up from A$281.84 a year earlier.

The company posted a net profit attributable of A$1.09 billion ($701.52 million) for the year ended July 31, compared with A$983 million in the previous year.

The coal miner declared a final dividend of 21.0 Australian cents per share and a special dividend of 9.0 cents per share.

Last year, it had a final dividend of 31.0 cents per share, and a special dividend of 25.0 cents per share. ($1 = 1.5538 Australian dollars)