Universal Coal forecast 29% increase in EBITDA

Company News

by Rachael Jones

Universal Coal (ASX:UNV) has released a statement forecasting a 29 per cent increase in EBITDA to $93 million for the financial year 2019.

The company currently has two collieries, both operating at a steady state production with a third in acquisition.

Both collieries have proven consistent in meeting the required off take agreement tonnages, allowing the Company the confidence of continued delivery on the success from FY2018.

Universal Coal is in the process of acquiring the North Block Complex from Exxaro Coal in South Africa.

Shares in Universal Coal (ASX:UNV) are 3.23 per cent lower at $0.30.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.