New Hope slumps after flagging an 84% drop in half-year net profit
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More news: Shares in New Hope Corporation tumbled in morning trade after the company reported an 84% drop in half-year net profit to $54.3 million, citing unfavourable weather conditions and lower coal prices.
Shares had fallen 6.60% to $4.95 at 1:11pm AEDT.
New Hope’s half-year NPAT falls 84% on bad weather, low coal prices
The news: New Hope Corporation’s half-year net profit after tax fell 84% to $54.3 million compared to the previous corresponding period as operations were impacted by bad weather and the industry faced low coal prices.
The numbers: The NPAT figure for the six months to 31 January 2026 was lower than the consensus expectation of $82 million, according to Visible Alpha.
Underlying EBITDA fell 58.5% on the previous corresponding period to $214.8 million amid lower realised pricing. Group saleable coal production came in at 5.5 million tonnes, 0.4% higher than the previous corresponding period. Group free-on-rail cash costs also lifted 9.2% to $60.6 per tonne.
A fully franked interim dividend of 10 cents per share has been declared, ahead of the expected 6 cents but less than the 14 cents declared the year prior.
The context: The Bengalla Mine in the Upper Hunter Valley faced “significant weather events late in the 2025 financial year”, however it is expected to return to the 13.4 million tonne per annum run-of-mine coal production rate in the second half of FY26.
New Acland Mine also saw its production capacity ramp up towards 5 million tonnes per annum while mining operations at Manning Vale West are scheduled to commence in the final quarter of calendar year 2026.
New Hope also increased its stake in metallurgical coal producer Malabar Resources from 3% to 25.97% during the period.
The source: ASX
