By Rhiannon Hoyle
Australian coal miner New Hope said underlying earnings fell by nearly 27% quarter-on-quarter, mostly because of weaker commodity prices.
The company on Monday reported underlying earnings before interest, taxes, depreciation and amortization of 179.9 million Australian dollars (US$117.5 million) for the three months ended Jan. 31.
New Hope said total coal sales were 7% higher than the quarter immediately prior, but that its average realized sales price dropped to A$180.64 a metric ton from A$211.40 a ton during the three months earlier.
Write to Rhiannon Hoyle at [email protected]
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