Profits Rocket at UK Coal

UK COAL yesterday notched up a 143pc jump in first-half pretax profits to 40.6m, as gains from its property portfolio outweighed losses at its deep mines.

The value of its property assets grew 16pc to 398m – a 54m increase since the end of December, boosted by additional planning consents filtering through..

rocket at UK Coal Surface mining made a 4.5m profit, while deep mines lost 15.3m in the period as it was hit by the closure of its Daw Mill operation following a fatality.

Boss Jon Lloyd said deep mines had returned to profit in June, July and August as production at Daw began ramping up again.

There was still no dividend. UK Coal fell 14p at 54912p..

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