News Archive

5 December 2007

Preliminary Results - Wednesday 5 December 2007

ATH Resources plc, one of the UK’s largest coal producers, reports its Preliminary Results for the year ended 30 September 2007.

Highlights

• Turnover up 30% to £70.5 million (2006 restated: £54.1 million) on sales of 2.2 million tonnes of coal (2006: 1.8 million tonnes)
• EBITDA up 31% to £25.1 million (2006 restated: £19.2 million)
• Profit before interest and tax up 27% to £10.3 million (2006 restated: £8.1 million)
• Earnings per share up 11% to 13.1 pence per share (2006 restated: 11.8 pence per share)
• Final proposed dividend of 8.24 pence per share (2006: 7.89 pence per share)
• Proven and probable coal reserves up 9% to 8.6 million tonnes (2006: 7.9 million tonnes)

Highlights post year end

• Successful appeal for development of ATH’s Muir Dean project in Fife which will enable ATH to mine 2 million tonnes of coal
• Application for a 1 million tonne extension at Grievehill was approved by the Local Planning Authority in November 2007

Commenting on the Preliminary Results, Tom Allchurch, Chief Executive of ATH Resources, said:

“We are delighted to report a year of record profitability.  With production at its highest level and further opportunities identified for growth in both the UK and Australia, the Board is confident in the Group’s long term prospects”