"Whitehaven Coal increased its earnings almost twentyfold thanks to surging coal prices and higher production.
Net profit for the year ended June 30 jumped to $405.4 million from $20.5 million a year ago, well ahead of analyst forecasts for a profit of $376 million.
Revenue rose 52.3 per cent to $1.77 billion from the year-earlier $1.164 billion."
Amazing really, market cap of 3.4b means Whitehaven Coal is trading at a PE of 8.5.
Say Bathurst made a profit of $40m (pretty conservative - Solid Energy was more than double this 'back in the day' - most of that due to stockton, which BRL now owns as we all know).
Market cap would equate to $340m at a PE of 8.5 (funny how I mentioned market cap of 342m - also conservative, using a different valuation 'method' in my post 26433387)... 340m/1.8b shares = 18.9 cents - a 45% rise from today's price - and this is before getting excited about synergies with the buller project etc.
You'd like to think BRL's share price would go up a notch today as well... anyhow, holders can look forward to production forecasts and annul results announcement by BRL within the next 2 weeks, while those on the side lines are fast running out of time.
BRL Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
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