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.
Download
The full results are available to download in PDF format.
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."
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