Trending for success: Increasing profits, controlled costs and reduced debt
FINANCIAL PERFORMANCE
Whitehaven Coal has reported a net profit after tax of $157.5 million for the half year ended 31 December 2016. Once again, all key financial performance metrics improved on the previous corresponding period (pcp):
- Sales revenue of $823.5 million, up by 43%;
- Operating EBITDA of $324.8 million rose by 205% following significant increase in coal prices;
- Operating cash flow of $263.6 million, an increase of 123%;
- Net debt was reduced to $628 million with gearing falling to 17%; and
- Unit costs were $56/t.
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