Whitehaven Coal: A bumper year
WHITEHAVEN Coal has reported a record year amid falling coal prices, and has released its strategy to face climate change head on. The company reported a record net profit after tax before significant items of $564.9m, which put it up 8pc from FY18. This improved the total cash generated to $964.1m, and reduced net debt to $161m at June 30. ROM coal production was up 4pc on 2018 to 18.4mt, and both the Narrabri and Maules Creek mines’ strong finish to the year enabled the company to exceed production guidance. It reported an underlying NPAT of $564.9m and produced 23.2mt of ROM coal. This allowed it to declare 50c per share dividend for the year and payed out dividends equivalent…