Whitehaven Coal reports better-than-expected first-half profit

Australia’s Whitehaven Coal reported better-than-expected first-half earnings on Thursday, helped by a rise in production and sales due to strong contributions from its mines in New South Wales.

“Operational performance at Daunia and Blackwater – and across our NSW mines – has been in line with or better than plan, and demand for Whitehaven’s metallurgical and thermal coal products continues to prove strong,” CEO Paul Flynn said in a statement.

The country’s leading independent coal miner said revenue for the first half of fiscal 2025, ended December 31, nearly doubled to A$3.4 billion ($2.16 billion) from A$1.6 billion last year.

The average price for coal sold during the half-year also rose 5% to A$232 per tonne.

Underlying net profit after tax was A$328 million ($208.15 million) for the six months, beating the Visible Alpha consensus of A$219 million.

The firm also declared an interim dividend of 9 Australian cents apiece.

($1 = 1.5763 Australian dollars)

(By Nichiket Sunil and Rishav Chatterjee; Editing by Mohammed Safi Shamsi)