The earnings were hit by lower export coal prices and high Australian dollar, the company said. Revenue dropped by 16% to A$549m ($488m) from A$652.1m in 2013.
During 2014, the company produced 5.6 million tons of clean coal, 5.8 million tons lower than in 2013 due to termination of New Oakleigh operations following the recovery of coal reserves.
New Hope CEO Shane Stephan said: "The cyclical downturn in market conditions for Australian coal producers continued throughout FY2014.
"Significant falls in export coal prices, combined with a stubbornly high AUD:USD exchange rate, meant New Hope’s focus remained on the tight control of costs, whilst also steadily advancing Project approvals, to position the Group for growth when market conditions improve.
"New Hope’s diversification of earnings, low cost of production and strong financial position means it is well placed to continue to deliver shareholder value despite the expected continuation of weak export coal prices in FY2015."
The company said it will continue to focus on efficient coal production in fiscal 2015, while preparing for an expected, gradual recovery in spot thermal coal prices in the coming 12- 18 months.
New Hope plans work closely with relevant authorities to advance approvals for the New Acland Coal Mine Stage 3 project in fiscal 2015.
