Business
Whitehaven profit slumps 95% as Australia’s coal prices collapse – Sydney Morning Herald
Whitehaven, one of the nation’s largest coal miners, has seen its profits nearly wiped out as coal prices collapsed in the pandemic.
Whitehaven, one of Australia’s largest coal miners, has seen its profits nearly wiped out as coal prices collapse around the world.
Following a record-breaking result a year earlier, Whitehaven on Wednesday said its earnings had crashed 95 per cent from $564.9 million to $30 million in the year to June 30. Shareholders would not receive a final dividend, meaning they earned 1.5¢ a share in the financial year, down from 50¢ in 2019.
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