News: NHC UPDATE 1-Australia's New Hope first-half profit more than halves as coal prices weigh

(Adds details on coal prices, company comment and dividend from paragraph 2 onwards)

March 19 (Reuters) - Australian coal miner New Hope Corp (NHC) on Tuesday reported a 62.4% drop in its first-half profit, hurt by a sharp decline in worldwide coal prices.

Even though the miner logged a 28.1% increase in its saleable coal production during the half-year, its average realised prices dropped 57% to A$197.03 per tonne.

"A mild winter in the Northern Hemisphere resulted in softer demand in the global energy market, creating downward pressure on prices," the Brisbane-based company said.

Coal prices have normalised following price spikes in 2022 due to the Ukraine war.

The company logged a profit attributable to shareholders of A$251.7 million ($165.01 million) for the six months ended Jan. 31, less than half its record profit of A$668.6 million a year earlier.

The miner declared an interim dividend of 17 Australian cents, below the 30 cents it paid last year, but higher than brokerage Morgans' estimate of 12 cents.

($1 = 1.5253 Australian dollars)