Queensland based New Hope Corporation Limited
(ASX:NHC) has suffered an interim loss after it was forced to write down the value of its oil and gas assets.
The coal mining and energy company booked a net loss of $23.1 million in the first half but excluding those significant items its profit rose 51 per cent to $34.2 million.
The result was positively impacted by strong sales and production values, a lower Australian dollar and lower costs.
The company’s performance was negatively impacted by continuing weakness in export coal prices and the plunging oil price.
Looking ahead New Hope Corporation believes it remains well positioned to weather current market conditions.
A fully franked dividend of 4 cents per share has been declared.
