BUZZ-Australia's New Hope falls on lowering coal production, sales forecast

Reuters
05/19
BUZZ-Australia's New Hope falls on lowering coal production, sales forecast

** New Hope NHC.AX drops as much as 7.1% to A$3.650, lowest since April 30

** Co trims FY25 coal sales forecast by 2% to 10.41 Mt and 11.45 MT; cuts saleable coal production forecast

** Says rail network constraints led to increased inventory at loading facility of its New Acland mine in Queensland

** Lowers mine's FY25 coal sales forecast by 10%

** Says Q3 underlying EBITDA fell 27% vs Q2 due to lower realised prices

** NHC among worst performers on ASX 200 index .AXJO

** As of last close, stock down ~21% YTD

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com;))

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