News Archive

14 June 2007

Interim Results

ATH Resources plc, one of the UK’s largest coal producers, reports its Interim Results for the six months ended 1 April 2007.

Highlights

• Turnover up 35% to £31.2 million (2006: 23.1 million) on sales of 973,000 tonnes of coal (2006: 790,000 tonnes)
  
• Cash from operations up 89% to £10.1 million (2006: £5.3 million)
  
• Profit before tax up 19% to £2.3 million (2006: restated £1.9 million)
  
• Earnings per share up 18% to 3.9p (2006: restated 3.3p)
  
• Interim dividend of 3.36p per share proposed
  
• December 2006: Planning application submitted for extension to the Grievehill mine for 970,000 tonnes
  
• March 2007: Inauguration of the Group’s overland conveyor, the longest of its kind in Europe
  
• Acquired £2.3 million development property at Pinxton, Derbyshire to facilitate the Langton tip washing project for ATH Regeneration
  
• Additional 600,000 tonnes of reserves added, with potential for up to a further 800,000 tonnes, at Rigg located close to the existing mine at Glenmuckloch
  

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

“These strong results reflect the continued high level of activity and development seen at ATH over the past six months. During the period we commissioned the Group’s new conveyor, the longest of its kind in Europe, and significantly increased our reserves. ATH Ogden, the land regeneration and coal tip washing business, has been re-branded to ATH Regeneration, and is now fully integrated into the Group with a healthy pipeline of prospective new projects developing.

“We remain dedicated to delivering on our strategic plan of growing organically and by acquisition. We look forward to strengthening our performance as both the market leader in the washing and regeneration of coal sites, and the second largest surface mining business in the UK.”

The full results are available to download in PDF format.