New Hope Rides To A Record On Back Of Bengalla

New Hope Group is benefitting from its growing interest in the Bengalla Mining Company.

The company has announced record net profit after tax (NPAT) of $159.8 million for the half year ending January 31, a new mark it attributed to the higher stake it has secured in Bengalla.

New Hope last year increased its share in Bengalla from 40 per cent to 70 per cent through deals with Wesfarmers, Taipower and Mitsui.

“This strong result is due to a number of factors, not the least being the company’s increased stake in the Bengalla coal mine,” New Hope managing director Shane Stephan said.