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Geo Energy reports lower earnings of US$37.1 mil for FY2024, down 40% due to lower average selling price of coal

Nicole Lim
Nicole Lim • 2 min read
Geo Energy reports lower earnings of US$37.1 mil for FY2024, down 40% due to lower average selling price of coal
The group delivered total coal sales of 7.9 million tonnes in FY2024, lower than the 8.4 million delivered in FY2023. It is aiming for sales of 10.5-11.5 million tonnes in the coming year. Photo: Unsplash
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Geo Energy has reported earnings of US$37.1 million ($49.78 million) for FY2024 ended Dec 31, 2024, down 40% y-o-y. Earnings for 2HFY2024 came in 70% y-o-y lower at US$10.4 million.

The group reported earnings per share of 2.65 cents per share for FY2024.

Revenue for the reporting period came in 18% y-o-y lower at US$401.9 million, while revenue for 2HFY2024 came in 7% y-o-y lower at US$232.5 million.

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