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MCC just took off after a profit upgrade. First time buyer, I picked up at $15.63. Maybe just a day trade for me - we will see....
MCC just took off after a profit upgrade. First time buyer, I picked up at $15.63. Maybe just a day trade for me - we will see....
Macarthur ups profit target
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Charts Macarthur Coal share price
AdvertisementJuly 10, 2008 - 4:18PM
Macarthur Coal shares surged more than 7% today after the company increased its annual profit guidance by as much as $23 million after a rise in expected sales.
The Queensland-based coal miner has forecast a profit of between $80 million to $90 million for the 2008 financial year, less than two months after providing guidance of $67 million to $75 million.
Macarthur, the supplier of more than a third of the world's pulverised coal, said the revised forecast follows increased coal sales and shipments in June, due to a reduction in the vessel queue at Dalrymple Bay Coal Terminal.
"This is particularly pleasing considering operations at Coppabella continue to suffer residual effects from flooding in the Bowen basin earlier in the year,'' acting chief executive Peter Kane said.
Macarthur shares gained $1.80, or 11.8%, to close at $17.10.
Macarthur has been the focus of corporate action over recent months, with steelmakers ArcelorMittal, the world's biggest, and Korea's Posco acquiring significant positions in the company.
Steelmakers are buying into coal and iron ore companies to secure supply as commodity prices climb higher, underpinned by the industrialisation of China and other developing nations.
Corporate interest was sparked after former Macarthur chief executive Ken Talbot started selling down his major stake in the company he founded.
Macarthur's largest customer ArcelorMittal is now the company's biggest single shareholder with a 19.9% stake.
Chinese group CITIC has a 17.7% interest, while Posco - another Macarthur customer - has a 10% stake.
ArcelorMittal and Posco purchased their stakes in Macarthur at $20 per share.
Mr Talbot's holding in Macarthur now sits at 4.76%.
Macarthur supplies more than a third of the world's pulverised coal from its two operations, Coppabella and Moorvale, which are in QLD's Bowen Basin.
AAP
Hm you sold out!?
MS
Well after buying in $15.63 and selling at $16.00 I got back in at $15.00 only have the SP fall on me
I am obviously sensitive to the fact that resources have currently soured a little, but MCC seems to be hammered down a little harder than other peer stocks.
I am wondering how the oil prices affect coal - does the cheaper oil shift interest away from coal? Where can I see up to date coal prices?
Date: 24/7/2008
Author: Alexandra Cain
Source: The Australian Financial Review --- Page: 4
Fully one eighth of the best-performing companies in the Small Ordinaries Indexin Australia are mining-related in mid-2008. This demonstrates that resourcesfirms are thriving in the current market, while many other segments of smallcapitalization stocks are faring less well. The highest-ranked non-miners areinsurance group Tower Australia, and Singapore Telecommunications. The overallleader in the index is Macarthur Coal, whose sales have risen from $A7.50 at thebeginning of the year to $A14.35 on 23 July. The worst performers are AllcoFinance Group and its Rubicon property trust offshoots
Well, 2nd highest profit since listing and MCC gets punished ????
MACARTHUR COAL ANNOUNCES PRELIMINARY NPAT OF $72.7 MILLION
ASX Announcement
Macarthur Coal (ASX: MCC) today announced a preliminary Net Profit After Tax (NPAT) of $72.7 million for the twelve months ended 30 June 2008. This is an increase of 9.3% on last year’s result and is primarily due to higher coal prices and the net gain on sale of a 19.61% interest in Monto Coal 2 Pty Ltd.
The preliminary final results for the 2008 financial year are based on financial
information which is in the process of being audited and includes:
2008 2007 % Var
Sales revenue $M 400.2 362.8 10.3
EBITDA $M 136.2 98.1 38.8
EBIT $M 117.7 81.9 43.7
NPAT $M 72.7 66.5 9.3
Diluted earnings per share Cents 36.6 35.5 3.1
A final dividend of fourteen cents per share fully franked was declared which takes the total dividend for the year to 17 cents per share fully franked.
Seems like any announcement, good or bad is deemed to have fallen short in the minds of some.
Anyway, 10% gives me a chance to add.
Date: 18/8/2008
Author: Mark Ludlow
Source: The Australian Financial Review --- Page: 3
Macarthur Coal CEO, Nicole Hollows, claims that nuclear power will be in use inAustralia within 10 years. Hollows says it is inevitable that nuclear energywill become a complementary energy source to coal-fired power. According toHollows, both nuclear and coal-fired power will be needed to meet global demandfor energy. There is speculation that nuclear energy may be placed back on thenational political agenda after 2010, due to "political necessity".Research commissioned by the Australian Government and carried out by formerTelstra CEO, Ziggy Switkowski, found that there is potential for nuclear energyto be viable in Australia within 10 years. However, the research also found thatit may be difficult for nuclear energy to compete against cheaper energy sources
Is there a possibility the 10% drop today was because of this:
There was a late accounting adjustment to the consolidated NPAT in relation to the capital gain on the partial sale of Monto Coal 2 Pty Ltd. This late adjustment resulted in the NPAT for the year falling below the profit guidance of $80 million to $90 million. The late adjustment has no impact on either present or future profit from operations, or cashflows.
$72.7 million from an expected $80 - $90 million ... I suppose that is around 10%
Quite a fall for MCC from the $20 level only, what seems, a few months ago. After following the stock for ages I bought for the first time. It seemed as if someone bit my hand off when my bid went in.
She"ll be right mate. A little down myself, but aint sweatin'. Be prepared for some anxious swings - it gaps up pretty heavily which makes for some cool jumps - makes up for the slow days when the lack of volume makes you feel like your ADSL modem has dropped off the planet.
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