Central Europe-based miner New World Resources Plc (NWR) has announced its financial results for the first half of 2012.
In the given period, the net profit of the company decreased by 60 percent to €35 million compared to the corresponding period of the previous year. NWR's sales revenues decreased by 17 percent year on year to €694 million, mainly due to lower coking coal prices, while the company registered a 56 percent decline in its operating profit for the given period.
During the first six months of the current year, total coal output amounted to 5.8 million mt, down one percent year on year, while external coal sales declined by 11 percent year on year to 4.8 million mt. NWR targets production volumes between 11 million mt and 11.1 million mt and external sales between 10.3 million mt and 10.4 million mt for the financial year 2011-12.