New World Resources posts net loss for H1

Thursday, 22 August 2013 17:05:06 (GMT+3)   |   Istanbul
       

Central Europe-based miner New World Resources Plc (NWR) has announced its financial results for the first half of 2013.

In the first six months, New World Resources registered a net loss of €145 million, compared to a net profit of €35 million in the corresponding period of the previous year. NWR's sales revenues decreased by 29 percent year on year in the first half to €493 million, while the company posted an operating loss of €126 million, compared to an operating profit of €71 million in the first half of 2012.

During the first six months, NWR's total coal output decreased by 26 percent to 4.28 million mt, while external coal sales declined by six percent to 4.55 million mt, both compared to the corresponding period of the previous year.

NWR's sales expectations for 2013 stand at 9-10 million mt, while it expects a lower sales volume of between eight and nine million mt for 2014.


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