Dalrymple Bay terminal delays hits profits of Macarthur

By: Jason Whittaker


Upgrades to the bottlenecked Dalrymple Bay port terminal have hit the bottom line of coal producer Macarthur Coal. The Brisbane-based company

Upgrades to the bottlenecked Dalrymple Bay port terminal have hit the bottom line of coal producer Macarthur Coal.

The Brisbane-based company has reported a profit after tax of $13.5 million for the six months to December 31, on the back of a 33 percent rise in revenue from the corresponding half to $216.2 million.

But the company says profits were hit by a reduction in sales due to allocation reductions put in place to reduce shipping queues at the port.

Construction works to expand the coal terminal have also forced the company to lower its full-year sales target from 4.5 to 4 million tonnes for the financial year.

Rainfall in December also disrupted mining operations at the company's Coppabella and Moorvale mines.

Macarthur CEO Nicole Hollows says the company remains optimistic about the coal price for the next financial year.

"With coal demand strong and supply constrained, it is likely that higher coal prices, and higher sales as a result of infrastructure upgrades, will result in a very positive outcome for the 2009 financial year," she says.

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