Whitehaven Coal Ltd
(ASX:WHC) has flagged a significant hit to its first half profit. In a quarterly report, the miner said that although coal sales were higher to December, a wet weather-related shortfall in the first half had made the purchase of expensive coal necessary.
The Sydney based company added that it expects to receive non-binding approaches within weeks. The Miner says it has signed confidentiality agreements with a number of interested parties.
For the financial year ended 30 June 2010, Whitehaven posted a net profit of $115 million.
