Macarthur Full-Year Profit Gains on Mine Sales, Coal Prices

Bloomberg reported that Macarthur Coal (ASX:MCC) nearly doubled its yearly profit on asset sales and rising coal prices.

The market news is quoted as saying:

Macarthur, which on May 16 said it would earn A$240 million to A$260 million for the year, remains in talks with potential rival bidders to challenge Peabody Energy Corp. (BTU)’s and ArcelorMittal’s A$15.50 a share offer.

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