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Coronado readies war chest for M&A spree after profit jump

Colin PackhamEnergy and resources reporter

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Coronado Resources will grow its balance sheet to prepare for future acquisitions after the coal miner reported a 184 per cent rise in annual profits.

Buoyed by record coal prices, Coronado Resources said profits during the 2021 financial year totalled $189.4 million, a massive turnaround from the $226.5 million loss it reported one year earlier.

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    Original URL: https://www.afr.com/companies/energy/coronado-readies-war-chest-for-m-and-a-spree-after-profit-jump-20220223-p59z1d