Whitehaven Coal posts record net profit

Company News

by Anna Napoli

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Last Updated: 24/01/2020 3:59 PM

Whitehaven Coal (ASX:WHC) has posted a record net profit after tax (NPAT) of $525.6 million for the 2018 financial year, a rise of about 29 per cent on FY17.

In more good news for company, its revenue strengthened over the 2018 financial year, and lifted almost 27 per cent on FY17 to $2.26 billion.

Underlying earnings before interest and tax (EBITDA) before significant items was $940 million, up 32 per cent on last year.

The company declared a final unfranked dividend of $0.27 including a $0.13 special dividend.

Whitehaven says the improvement in earnings was driven by a strong operating performance coupled with the continued strength of the coal price environment.

Shares in Whitehaven Coal (ASX:WHC) are trading is trading 3.99 per cent higher to $5.47.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.