Lower coal prices weigh on Stanmore Resources (ASX:SMR) earnings in1HFY24

Mon 02 Sep 24, 06:47 AM | Team Kalkine

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Highlights

Stanmore Resources is an Australia based metallurgical coal production company with operations and explorations projects in the Bowen and Surat basins

In 1HFY24, SMR’s revenue fell to USD 1,226 million, vs USD 1,493 million in 1HFY23

In FY24, capital expenditure of USD 165 – 185 million is expected

Stanmore Resources Limited (ASX: SMR) is an ASX-listed resources company with operations in the Surat and Bowen basins. It is a metallurgical coal production firm, headquarterd in Queensland.

In the first half of financial year 2024 (1HFY24), ending 30 June 2024, revenue of SMR declined to USD 1,226 million, compared to USD 1,493 million in the previous corresponding period. Its revenue fell due to a reduction in average sales price during the reported period.

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