The board of directors of Australia-based low-volatile metallurgical coal producer Macarthur Coal Limited has on May 5 announced profit guidance for the financial year 2009-10. Based on current forecasts, net profit after tax for the year ended 30 June 2010, prior to any necessary non-cash accounting adjustments is likely to be in the range of $103 to $113 million compared to $168.6 million in FY 2008-09, the company said.
The guidance is based on Macarthur achieving its targeted annual sales volume of 4.8 to 5.0 million mt and remains subject to no further congestion on the Goonyella corridor in Queensland, through which the coal is transported, or no further production disruptions, Macarthur stressed.