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Macarthur Coal Limited (ASX:MCC) is expecting its full-year net profit to jump by 50 per cent.
The coal mining company was heavily impacted by rains and floods in Queensland over summer and the recent wet season, and admits this will hinder production output.
But it also says net profit is expected to come to $185 million to $205 million in the year to the end of June.
Today’s announcement comes just a few weeks after the company said rainfall in March delayed a return to full production.
In the first half of its 2011 financial year Macarthur Coal posted a net profit of $141 million.
