November 19, 2019 / 2:25 AM / 18 days ago

Australia's New Hope posts 66% surge in Q1 saleable coal output

Nov 19 (Reuters) - Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at its Bengalla mine.

The company said it produced 3.3 million tonnes of total saleable coal in the quarter ended Oct. 31, compared to 2 million tonnes produced a year ago.

New Hope, however, posted a 51% decline in net profit after tax as prices of thermal coal declined over the past year, the company said in a statement. (Reporting by Niyati Shetty in Bengaluru; Editing by Muralikumar Anantharaman)

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