Fourth quarter revenues totalled $334 million, a 31% increase over the same period a year ago. Coal shipments for the quarter were 17.5 million tonnes versus 16.1Mt for the fourth quarter of 2004. Quarterly profits increased nearly sevenfold to $US28.6 million.

For the year ended December 31, the company reported revenues of $US1.3 billion, a 32% increase over the $US981 million reported in 2004. Shipments went from 63.5Mt to 68.8Mt. These sales results led to an astounding $US86 million increase in net profit, from $US3 million a year ago to nearly $US89 million for 2005.

“Coal markets, already strong in the eastern US, gained momentum throughout the year as demand and pricing for western coal improved dramatically in the fourth quarter. With increasing amounts of coal to be repriced, Foundation is well-positioned in the market for the future,” Foundation chief James Roberts said.

Surely lending to the success, the company announced in January that its Cumberland Coal Resources, Emerald Coal Resources and Foundation Coal West operations made their way into the record books for safety, production and shipments. It also took home “Coal Company of the Year” honours in December at the seventh annual Platts Global Energy Awards in New York.