Centennial Coal Profit Falls

Submitted by Share Trading on 18 August, 2010 - 11:28

Mining company, Centennial Coal (ASX:CEY) have announced a 28 percent fall in company net profit to $51.5 million, down from $71.2 million. The company pinned the reason to lower export prices in US dollars and the appreciation of the Australian dollar.

"While export tonnes were up six per cent, a combination of a 23 per cent reduction in the export price, averaging US$76 per tonne, and an eight per cent appreciation in the Australian dollar reduced underlying net profit after tax by 35 per cent when compared with the previous year".

Centennial Coal Dividends

Centennial Coal has declared a final dividend of 4 cents per share, franked at 40 percent, compared with a dividend in the previous corresponding period of 4 cents per share which was fully franked.