News: New Hope grows Q3 coal output and sales

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New Hope Corporation Limited (ASX:NHC) has grown its coal output and sales in the third quarter.

The thermal coal miner has reported a 20 per cent rise in raw production and a 27 per cent rise in saleable production, compared to the prior corresponding period.

In the first nine months of the current financial year sales have grown 23 per cent to 4.8 million tonnes, compared with the year before.

However media reports have speculated New Hope’s earnings could take a hit from weaker coal prices when the company posts its second-half earnings result.

Shares in New Hope Corporation closed 0.95 per cent higher following the announcement, finishing the session at $4.25.

New Hope Corporation’s net profit dropped to $101 million in the first half of the 2012 financial year.