'PLATFORM FOR GROWTH'--Chairman

摘要

THE cornerstones are in place for UK COAL's Group activities in mining and property to grow and create significant shareholder value by providing energy for the nation and new homes and jobs from development schemes on company-owned land, says Chairman David Jones. Despite what has "not been the easiest half year for UK COAL," Mr Jones says the longer-term platform for growth remains fully in place. Confirming a first-half loss before tax of 81.5 million pounds - which included a loss on deep and surface mining activities of over 39 million pounds and a 9 percent decrease in the December valuation of the property portfolio from 422 million pounds to 382.2 million pounds - Mr Jones said UK COAL was well advanced in changing the profile of the deep mine business to three high performing mines, broadly able to maintain total production but with the benefits of improved economics and reliability.