Maritime News

August 19, 2010 00:24

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Centennial Coal profit falls 28pc

CENTENNIAL Coal’s full-year net profit fell 28 per cent to $51.5 million for the period ended June 30, from $71.2m a year earlier. Revenue fell 10 per cent to $800.1m in the year to June 30, from $886m the previous year.

Centennial is currently the target of a $2.5 billion takeover by Thai
energy company Banpu that values the target at $6.20 cash per share.

On the normalised basis preferred by equity analysts, net profit after tax came to $53.3m, compared to $82m in 2009.

A consensus of 15 analysts had expected a figure of $56.83m.

The company will pay a final dividend of 4 cents per share, identical to the previous year’s payout.

Source: Dow Jones