Atlas Iron lifts FY guidance

Group expects higher full-year production after record second quarter shipments.

Atlas Iron (AGO) has lifted its full-year production guidance after posting record December quarter shipments despite the impact of a cyclone in December.

In its December quarterly report to the Australian Securities Exchange, Atlas said it has increased full-year 2014 production fuidance to 10.2 million tonnes to 10.7 million tonnes shipped.

The group shipped 2.7 million wet metric tonnes in the three months to December 2013, up from 1.75 million wet metric tonnes in the December 2012 quarter.

Atlas Iron forecasts earnings before interest, tax, depreciation and amortisation of $193 million to $203 million for the six months to December 2013.