Macarthur Coal Limited
(ASX:MCC) has announced the December half 2009 sales volumes have beat expectations.
The company now expects first half profit of between $37 million and $42m, up from its November forecast of $30m to $38m.
Sales volumes in the first half were 2.8 million tonnes, also beating guidance of up to 2.7 million tonnes, after strong production and sales in the second quarter, favourable weather conditions and an earlier than expected loading of coal exports at Dalrymple Bay Coal Terminal in Queensland.
The company also lifted its full year sales forecasts to between 4.8 million tonnes and 5 million tonnes, with seasonal weather effects and coal chain restrictions expected to continue.
CEO Nicole Hollows also warned that lack of progress in securing water and rail infrastructure meant that it was now unlikely to ship any coal from its new Middlemount project in fiscal 2011.
Macarthur Coal reported a profit of$168.56million for fiscal 2009.
