Feb 15 (Reuters) - Australia's Whitehaven Coal (WHC) on Friday said its first-half profit rose 19 percent helped by robust prices for its higher grade thermal coal, thanks to Chinese demand, that offset costs.
"Recently imposed coal import restrictions by China have led to reduced demand for Indonesian low CV (calorific value) coal and have helped to increase the price differential that exists between high and low CV coals," Whitehaven, which doesn't sell to China directly, said in a statement.
Net profit for the six months ended Dec. 31 came in at A$305.8 million ($217.27 million), compared with A$256.2 million last year. ($1 = 1.4075 Australian dollars)
News: WHC Australia's Whitehaven H1 profit rises 19 pct
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