Original article by Paul Garvey
The Australian – Page: 31 : 2-Mar-18
Yancoal Australia has posted a 2017 net profit of $A229m, its first since 2012. The result was boosted by pre-tax earnings of $A276m for the Coal & Allied assets that Yancoal bought for $US2.7bn ($A3.5bn). Yancoal CEO Reinhold Schmidt notes that the deal made the Chinese-backed company the third-largest coal producer in Australia. He says dividends may be on the agenda at some point, but stresses that the focus is on delivering sustainable returns for investors.
YANCOAL AUSTRALIA LIMITED – ASX YAL, COAL AND ALLIED INDUSTRIES LIMITED, RIO TINTO LIMITED – ASX RIO