Mining company Macarthur Coal (ASX:MCC) has raised its 1H10 profit guidance to between $37 million and $42 million, on the basis of improved sales in the December quarter.
The company had previously forecast profit in the range of $30 million to $38 million.
Macarthur realised sales volumes of 2.8Mt in Q4 – the second highest in the company’s history, and above guidance. Strong production and more favourable weather conditions contributed to the result, the company said.
Despite the announcement, MCC shares have today fallen 1.9% to $11.32, and have been trending downward every day since Tuesday.