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.