New Hope FY profit falls

Investment impairments weigh heavily, miner says it is well placed to withstand coal market troubles.

New Hope Corporation (NHC) says it is well placed to withstand current coal market conditions after posting a fall in profit, largely due to investment writedowns.

For the 12 months to June 30, the group’s net profit after tax was $74.13 million, a 55% fall from the previous year’s $167.13 million.

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