Gloucester Coal Limited (ASX:GCL) has reported a 16 per cent rise in fourth quarter sales, it says, through taking advantage of its port capacity.
In the three months to June, total coal production came in at 612,000 tonnes from 527,000 tonnes the year before.
In the same period coking coal sales were up 11 per cent and thermal coal sales were up 19 per cent.
Gloucester posted a record amount of material movement in the Gloucester Basin for the quarter and says it also made significant progress towards the development of the Middlemount Coal Project.
The company also completed a $230 million equity raising the quarter to fund its Donaldson Coal and Monash acquisitions.
Gloucester Coal reported an interim net profit of $23 million in the second half of 2010.
