https://www.miningweekly.com

Stanmore’s FY revenue and profit surge

27th August 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Coal miner Stanmore Coal has reported a surge in revenues and profit for the 2018 financial year, as coal prices increased.

Revenue for the year ended June was up by 51%, to A$208-million, while gross profits increased by 55%, to A$52.29-million, Stanmore reported on Monday.

Underlying earnings before interest, taxes, depreciation and amortisation increased by 70%, to A$45.5-million, while profit after tax declined from A$12-million reported in 2017, to A$5.9-million.

Stanmore in early June struck a A$30-million deal with Peabody Australia to acquire the Wotong South coking coal deposit, which is located adjacent to Stanmore’s Isaac Plains project, in Queensland.

“There has been nothing more important than executing our strategy on the ground. Disciplined operational performance, capital light project development and acquisition coupled together with a significant rehabilitation performance has proven the company’s ability to perform across the full cycle of resource development in a short period of time,” said Stanmore MD Dan Clifford.

Saleable coal production for the financial year reached 1.1-million tonnes, down from the 1.2-million tonnes produced in the previous financial year, while coal sales increased from just over 1-million tonnes to 1.3-million tonnes.

The average sales price achieved during the full year also increased from A$135.1/t to A$144.8/t.

Looking ahead, Stanmore expected coal production to reach 1.8-million tonnes in 2019, incorporating the transition to the Isaac Plains East operation.

“The outlook for the company as our strategy is delivered, is compelling. Our infrastructure is in place, production is increasing by 50%, costs are reducing and we have a strong pipeline ahead of us as we take the infrastructure to full capacity,” said Clifford.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Mitsubishi Chemical Group
Mitsubishi Chemical Group

Mitsubishi Chemical Advanced Materials South Africa (Pty) Ltd is a leading manufacturer of high-performance engineering plastics for the mining...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/06/2026)
26th June 2026 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.043 0.064s - 111pq - 2rq
Subscribe Now