Macarthur Coal has upped its 2009-10 profit guidance today following its post of better-than-forecast sales of coal for the fiscal year.

Macarthur Coal, a mining firm based in Brisbane, has announced that it is now projecting a net profit amounting from $115 million to $125 million for the fiscal year that ended in June 30, preceding any adjustments for non-cash profits, increasing from the earlier profit guidance amounting from $103 million to $113 million.

The profit guidance upgrade was attributed by coal sales achieved for the fiscal year at the amount of 5.26 million tonnes, which exceeded initial guidance projections amounting from 4.8 million to 5 million tonnes.

"Our operations have remained focused on coal delivery and, with the Dalrymple Bay Coal Terminal achieving record throughput in June, we were able to load some shipments sooner than expected," Nicole Hollows, CEO of Macarthur Coal, said.

"Given additional sales in this financial year we have started the 2011 financial year with lower available coal stocks, however both of our mines are performing well and we are focused on continuing to perform well in 2011."

Ben Potter, analyst of IG Markets, remarked: "This is further good news for Macarthur shareholders as we're likely to see strong buying support on the opinion.

"The big question will be whether or not this upgrade and yesterday's M&A news reignites interest from potential suitors, in particular Peabody.

"If Peabody thought Macarthur was worth $15 per share under the now defunct RSPT, one would think it offers more value under the new MRRT."