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Australian coal miner New Hope Corp (ASX:NHC) saw its shares jump over 7% to A$3.99 after reporting a significant 35% rise in half-year net profit. The company’s net profit after tax reached A$340.3 million for the six months ending January 31, driven by higher production and lower unit costs.
Strong output from its Bengalla Mine, which hit its target run rate, and the continued ramp-up at New Acland Mine supported production gains. Despite weaker coal prices, cost discipline helped offset market headwinds.
New Hope’s underlying EBITDA climbed to A$517.3 million, boosted by a 32.9% surge in saleable coal production to 5.4 million tonnes. The company achieved steady-state operations at Bengalla, producing 13.4 million tonnes annually, while securing legal certainty for New Acland Stage 3 expansion.
In a move to reward shareholders, New Hope declared an interim dividend of 19 Australian cents per share, up from 17 cents a year earlier. It also announced an on-market share buyback of up to A$100 million, leveraging strong cash flow generation to support capital returns and growth projects.
The company’s impressive financial performance highlights its ability to navigate market challenges, maintain operational efficiency, and deliver strong shareholder value.
