Macarthur Coal Ltd
(ASX:MCC) has upgraded its annual sales volume and profit guidance for fiscal 2010.
For the 12 months to June 30, 2010, the company says it now expects to post profit of between $115 million to $125 million.
This compares to previous guidance for profit of between $103 million and $113 million.
Macarthur says it sold 5.26 million tonnes of coal during the 12 month period, compared to forecasts of sales volume of 4.8 to 5 million tonnes.
CEO Nicole Hollows says given additional sales in this financial year, the company has started the 2011 financial year with lower available coal stocks.
However Ms Hollows says both of the company’s mines are performing well and Macarthur is focused on continuing to perform well in 2011.
Macarthur Coal posted a net profit after tax of $168.56 million for fiscal year 2009.
