Roy Hill bound for record profit despite volume miss

Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 2-Jul-19

The Roy Hill iron ore project’s 2018-19 production is expected to be 55 million tonnes, although export volumes are likely to total 53 million tonnes. Recent data from Macquarie suggested that the Gina Rinehart-backed project would export 52.5 million tonnes in 2018-19, after shipping about 50.5 million tonnes in 2017-19. Looking ahead, Roy Hill has applied to increase its annual export capacity to 60 million tonnes in 2020. Roy Hill’s 2018-19 earnings should be boosted by a rally in the iron price in 2018-19, following a $558m profit in the previous financial year.

CORPORATES
ROY HILL HOLDINGS PTY LTD, HANCOCK PROSPECTING PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s