Yancoal profit dives 90% on accounting items, despite record coal output

Yancoal Australia (YAL.AX) reported a 13% increase in half-year revenue to $3.02 billion. Saleable coal production reached a record 19.8 million tonnes during the period.

Net profit after tax fell approximately 90% to $17 million, down from $163 million the previous year. Significant non-operating and non-cash accounting items caused the sharp decline.

Operating EBITDA climbed 29% to $767 million. The company declared a fully franked interim dividend of A$0.07 per share.