G3etting cheap.Sydney - Thursday - October 16: (RWE Aust...

G3etting cheap.

Sydney - Thursday - October 16: (RWE Aust Business News) -
Macarthur Coal (ASX:MCC) has upgraded profit guidance, with profit for
the six months to December 2008 likely to be in the range of $150 million
to $160m.
This is significantly higher than the $13.5m profit reported in
the previous corresponding half.
Assumptions include achieving the budgeted shipping schedule and
no change in the valuation of financial derivatives from 30th June 2008.
The profits for the first half of this financial year have
improved primarily from significantly increased prices for premium low
volatile PCI coal.
Sales volumes were lower in the first quarter due to the impact
from flooding in the Bowen Basin with Macarthur Coal lifting its force
majeure declaration on 20 August.
Sales volumes are progressively improving as the Coppabella mine
recovers to full operating capacity.