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New Hope Corporation Limited (ASX:NHC) has generated a full year net profit of $74 million, a significant fall on last year’s result.
The diversified energy company says the earnings were as a result of impairment to the carrying value of New Hope’s investments in Dart Energy Limited (ASX:DTE), WestSide Corporation Limited (ASX:WCL) and Quantex totalling $51.4 million.
The operating result was in line with expectations due in part to lower coal prices and a higher Australian dollar.
New Hope Managing Director Rob Neale says the company has been focused on increased productivity and is well positioned withstand current coal market conditions.
Directors declared a final dividend of 5 cents per share and a special dividend of 5 cents
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