Macarthur Full-Year Profit Gains on Mine Sales, Coal Prices
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Macarthur Coal Ltd., subject of a A$4.7 billion ($4.9 billion) takeover bid, said full-year profit rose 93 percent after selling stakes in two mines and prices gained.
Net income was A$241.4 million, or 82.8 cents a share, in the 12 months to June 30, compared with A$125.1 million, or 49.3 cents, a year earlier, the Brisbane-based company said today in statement. This compares with a forecast of $253 million from Royal Bank of Scotland Group Plc.