News Archive

09 June 2009

Interim Results

ATH Resources plc, one of the UK's largest coal producers, reports its Interim Results for the six months ended 29 March 2009.

Highlights

• Turnover increased by over 27% to £35.7 million (2008: £28.1 million) on sales of 845,000 tonnes of coal (2008: 787,000 tonnes)
• Average selling price increased by 19% to £42 per tonne
• Strong improvement from the Surface Mining business with operating profit more than doubling to £3.5 million (2008: £1.2 million)
• Profit before tax of £0.1 million (2008 : £0.4 million)
• Earnings per share of 0.15 pence (2008 : 0.8 pence)
• Proposed interim dividend deferred until payment of final dividend (2008: 3.36 pence per share) following recent inflow of water at the Muir Dean mine
• Water management plan on track at Muir Dean to restore the mine to full production later in the summer
• Proven Reserves increased by 9% to 4.9 million tonnes

Commenting on the Interim Results, Tom Allchurch, Chief Executive of ATH, said: "I am pleased to announce a strong improvement in the results of our Surface Mining business with proven coal reserves also moving ahead. The profitability of the Group was held back by the lack of production from the ATH Regeneration business. However, with the start of deliveries this April by Surface Mining under a new, long term coal contract I am confident that trading for the full year should be in line with market expectations."

 

For further information:

ATH Resources plc
Tom Allchurch, Chief Executive	Tel: +44 (0)1302 760 462
tom.allchurch@ath.co.uk	www.ath.co.uk

Evolution Securities Limited
Joanne Lake / Peter Steel	Tel: +44 (0)113 243 1619
joanne.lake@evosecurities.com	www.evosecurities.com

Media enquiries:
Abchurch
Sarah Hollins / George Parker / Mark Dixon	Tel: +44 (0) 20 7398 7719
mark.dixon@abchurch-group.com	www.abchurch-group.com

 

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