Resource company Felix Resources Ltd
(ASX:FLX) has reported a 42 per cent increase in net profit for the year.
Net profit for the year to June 30 came to $267.6 million, up from $188.5 million the year before.
The company says attributable sales tonnage rose 3 per cent to 4.77 million tonnes over the fiscal 2008 tonnage.
Felix says all of its mines performed to expectation during the year.
The company says it is in good shape going into 2010 and is basically in a sold out position until mid 2010 provided there is no more global financial shocks which may cause a slowdown like that suffered in late 2008.
Felix Resources recently received a $3 billion takeover offer from China’s Yanzhou Coal Mining, which it says the board will unanimously recommend.
Felix declared a final dividend of 50 cents a share. Felix Resources profits have increased each year for the past four years.
