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BATHURST RESOURCES LIMITED. — Earnings Release 2021
Aug 26, 2021
64563_rns_2021-08-26_97abdd63-5535-4412-8bea-d212b9208908.pdf
Earnings Release
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BATHURST RESOURCES LIMITED
Level 12 1 Willeston Street Wellington 6011 New Zealand Tel: +64 4 499 6830
ASX Code: BRL
WEBSITE & EMAIL
CHIEF EXECUTIVE OFFICER Richard Tacon
DIRECTORS
Peter Westerhuis – Chairman Richard Tacon – Executive director Francois Tumahai – Non-executive director
Russell Middleton – Executive director
COMPANY SECRETARY
Bill Lyne [email protected]
INVESTOR RELATIONS
MEDIA RELATIONS
Appendix 4E Results for announcement to the market
| Year ended | Year ended | Year ended | ||
|---|---|---|---|---|
| 30 June | 30 June | % | ||
| Key information | 2021 | 2020 | change | |
| Sales revenue and other income ($'000) | 48,838 | 47,138 | 4% | |
| Profit/(loss) from ordinary activities after($'000) | tax | 66,721 | (47,426) | 241% |
| Profit/(loss) after tax ($'000) | 66,721 | (47,426) | 241% | |
| Basic earnings per share (cents) | 39.0 | (27.8) | 240% | |
| Diluted earnings per share (cents) | 35.5 | (27.8) | 228% | |
| Net tangible assets per share (cents) | 75.3 | 39.1 | 92% |
There were no interim dividends paid or declared during the year.
This announcement should be read in conjunction with the 30 June 2021 audited financial statements and the results announcement which provides commentary on results for the year.
Included in Bathurst's results noted above is $13.3m profit after tax relating to Bathurst's equity share of profit in joint venture BT Mining Limited. Also included is Bathurst’s equity share of loss recorded in joint venture NWP Coal Canada Limited (Bathurst’s Canadian coking coal exploration project) of $48k.
A previously recognised deferred consideration performance payment was reversed in the current year due to a favourable court ruling for Bathurst on the payment, which had a substantial positive effect on net profit after tax. Refer to note 15 (c) and 23 in the financial statements and the accompanying results announcement for further information.
Note that prior year earnings per share and net tangible assets per share have been restated to reflect the effect of the 10:1 share consolidation.
The audit report contains an emphasis of matter paragraph. This draws readers’ attention to notes 15 (c) and 23 in the financial statements regarding the status of legal proceedings brought against Bathurst by L&M Coal Holdings Limited. The audit opinion was not modified in respect of this matter.
This document was authorised for release by the board of directors on the 27 August 2021.