UK Coal is all fired up.
Investors Chronicle - magazine and web content, September, 2007
Rising prices and output, together with a strong property book, boost profits Jonas Crosland
As far as income goes, UK Coal is a property company with a loss-making sideline in coal extraction. But this could all be about to change. For while its deep mining operations saw first-half losses deepen from GBP900,000 to GBP15.3m, they have since returned an operating profit every month since June.
In fact, if it hadn't been for the temporary closure of the Daw Mill pit, deep mining operations would have made a profit of around GBP4.7m. And open cast operations, where production challenges are that much less, saw profits rise from GBP1.2m to GBP4.5m as output trebled to 700,000 tonnes. Income was also boosted by a steady reduction in contracts at fixed...
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