1432 [Dow Jones] Gloucester Coal (GCL.AU) up 7.5% at 7 1/2 year high of A$4.00 after reporting net profit for Jan-June 2005 of A$8.5 million. EBIT hit record A$12.1 million vs A$5.6 million in Jan-June 2004 FY04 (company moved from calendar year to financial year reporting). Final dividend 10 cents. GCL said higher contract sale prices in latter half of 2Q leave company positioned for record profit in FY06. Also announced 10% share buyback. Technically, if GCL closes above A$3.90 today, it should rise to A$4.50, then A$4.90 and possibly A$6.30 over next 12 months. (DWR)
GCL Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
