Alliance Holdings GP, L.P. (AHGP) has reported an 113.02 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $61.21 million, or $1.02 a share in the quarter, compared with $28.74 million, or $0.48 a share for the same period last year.
Revenue during the quarter went down marginally by 2.72 percent to $527.29 million from $542.05 million in the previous year period. Total expenses were 76.52 percent of quarterly revenues, down from 98.92 percent for the same period last year. This has led to an improvement of 2240 basis points in operating margin to 23.48 percent.
Operating income for the quarter was $123.80 million, compared with $5.84 million in the previous year period.
Operating cash flow falls marginally
Alliance Holdings GP, L.P. has generated cash of $700.72 million from operating activities during the year, down 1.92 percent or $13.68 million, when compared with the last year.
The company has spent $191.79 million cash to meet investing activities during the year as against cash outgo of $355.92 million in the last year. It has incurred net capital expenditure of $167.70 million on net basis during the year, down 52.12 percent or $182.53 million from year ago.
The company has spent $503.09 million cash to carry out financing activities during the year as against cash outgo of $348.09 million in the last year period.
Cash and cash equivalents stood at $44.52 million as on Dec. 31, 2016, up 15.12 percent or $5.85 million from $38.68 million on Dec. 31, 2015.
Debt comes down significantly
Alliance Holdings GP, L.P. has recorded a decline in total debt over the last one year. It stood at $662.06 million as on Dec. 31, 2016, down 27.84 percent or $255.36 million from $917.42 million on Dec. 31, 2015. Interest coverage ratio improved to 17 for the quarter from 0.78 for the same period last year.
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