The Australian reported that New Hope Corporation is a coal focused energy company with substantial open-cut mining operations based in southeast Queensland. It exports 65 of its coal production to several countries across the Asia-Pacific region.

The company also owns Queensland Bulk Handling; a 10 million tonne a year capacity export coal loading facility at the Port of Brisbane. This is a valuable infrastructure asset critical to NHC's long-term export strategy.

NHC has just reported a healthy result, with full year profit up 16% to AUD 171.1 million. Production volumes rose to a record 6.29 million tonnes, up 11% on last year.

Management attributed the strong result to the company's improvements in operational efficiency, a focus that looks set to continue.

Managing director Mr Rob Neale noted that New Hope's solid full -year result was driven by a record operational performance that saw production and sales figures at all time highs. He said "Despite the unfavourable environment, this has enabled the board to pay a special dividend, maintaining our track record of delivering superior shareholder returns relative to our peers."

NHC remains in a very sound financial position, with no debt and a significant cash balance of AUD 1.52 billion. This equates to cash backing of AUD 1.83 a share and suggests NHC is well positioned for acquisitions, further development, exploration and the ongoing payment of franked dividends in the coming years.

Source -The Australian

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