Yancoal sees game-changing $4.85b revenue

26/02/2019 07:55:00

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Yancoal, (ASX:YAL) Australia’s largest pure-play coal producer, announced a record profit after tax of $852 million up from last year's $229 million for the year ended 31 December 2018.

These figures were boosted by robust prices for its thermal and metallurgical coal.

Net profit before one-off items rose to $868 million for the year ended December, from $211 million in the previous year.

Revenue for the period rose 86 percent to $4.85 billion.

Total operating EBITDA is $2,180 million, up $1,192 million on the year prior.

Yancoal’s financial turnaround was driven by record production at a time of sustained pricing strength across global coal markets.

Shares in Yancoal, (ASX:YAL) closed 2.24 per cent higher at $3.20 yesterday.