Yancoal $404.6m Profit Up 34.2% FY2012

Australia's largest standalone Coal mining company, Yancoal (ASX:YAL) have announced its full year financial results for 2012 to its shareholders and investors on the Australian stock market.

• Yancoal have posted a profit of $404.597 million for FY 2012, up 34.2 percent from 2011's result of $303.515 million.
• Revenue was $1.142 billion down from 2011 revenue of $1.462 billion.
• Profit was impacted by: Lower coal prices, a strong Australian dollar, increased operating costs and payments for unused port and rail capacity.
• The profit result included $200 million additional income from the acquisition of Gloucester Coal (2012). In 2009 the company had taken over Felix Resources in a $3.1 billion takeover.
• Yancoal owns the Yarrabee Mine (west of Gladstone and Rockhampton), Cameby Downs Mine (in Surat Basin near Miles in southern Queensland) and a joint venture with Peabody Mining in the Middlemount mine.
• Yancoal produced 14.7-million tons of coal in the year.
• Yancoal is not paying a dividend.