Geo Energy's net profit drops 40% YoY in FY2024
The group’s revenue of $541.5m (US$401.9m) marked a 17.8% YoY decrease.
Geo Energy’s net profit dropped 40% year-on-year to $50.2m (US$37.3m) during the financial year 2024 due to lower revenue.
The group’s revenue of $541.5m (US$401.9m) marked a 17.8% YoY decrease whilst the Group's average selling price stood at $68.31 (US$50.69) per tonne, lower than in FY 2023.
Despite lower ICI4 prices during the period, the group’s cash profit per tonne from coal mining remained stable at an average of $13.97 (US$10.37) per tonne.
The company declared a final dividend of $0.004 per share.
($1=US$0.74)