Stanmore Resources (ASX:SMR) reported its half-yearly net profit attributable as US$340.3 million, witnessing a hike of 46%.

It also declared that its revenue from ordinary activities was at $1,493.4 million, marking a 36% rise.

The company anticipates costs per tonne to become normal in the second half, and is projecting saleable production of up to 13MTPA for the year 2023 with costs per tonne mellowing in the 2H.

Stanmore Resources (ASX:SMR) also plans to escalate its capital expenditure in the second half of 2023 as part of the re-scheduling of the Poitrel Ramp 10 work.

Stanmore Resources (ASX:SMR) is a company majorly involved in coal to steel making solution, with high quality coking and thermal coal assets.