New Hope Corporation Ltd (ASX:NHC) has released its first half results for the six months ended 31 January 2017.
The diversified energy company’s revenue rose 63% to $374.6 million compared to the prior corresponding period.
The company’s NPAT skyrocketed by 2,410% to $68.4 million (up from $2.7 million last year).
New Hope’s EPS jumped 2,633% to 8.2 cps. Last year, it was just 0.3 cps.
The company declared a fully franked interim dividend of 4 cps (which was double last year’s interim dividend).
New Hope says these results were driven by increased sales, a recovery in spot coal prices, continued cost management efforts, and its mining operations – in particular, strong production from the Bengalla coal mine in NSW (in which New Hope has a 40% stake).
This morning, New Hope shares are tracking 4.87% higher at $1.83.