Whitehaven Coal Ltd. declared an unfranked interim dividend of 13 Australian cents per share for first half of its fiscal 2018 after achieving strong results on the back of higher coal prices. The company did not pay a dividend in the same period a year earlier.

Net profit for the period grew 63% year over year to A$257.2 million.

Revenue in the period jumped to A$1.15 billion, from A$823.5 million in the prior-year half, according to the Feb. 16 release.

Revenue shot up on the back of sales volumes increasing to 9.2 million tonnes in the half from 7.8 million a year ago, and realized prices in Australia increasing to an average of A$124 per tonne in the period from A$106 per tonne in the year-ago period.

On a yearly basis, operating EBITDA increased 42% year over year to A$460.6 million, and the company generated 55% more cash from operations at A$409.7 million.

Meanwhile, Whitehaven cut its salable coal production guidance for fiscal 2018 to between 20.5 million and 21 million tonnes, from between 22 million and 23 million tonnes, following reduced production from the Narrabri mine during the first half.

Additionally, Christine McLoughlin retired as a director of the company, and Fiona Robertson will join the board as a new independent nonexecutive director. McLoughlin joined the board in May 2012.