Losses widen at Atlantic Coal

Atlantic Coal, an AIM-listed open cast coal production and processing company, saw a widening of half year losses after exceptional expenses and rising administrative expenses offset a 79 per cent leap in gross profit.

Atlantic Coal, an AIM-listed open cast coal production and processing company, saw a widening of half year losses after exceptional expenses and rising administrative expenses offset a 79 per cent leap in gross profit.

Consequently, the loss from ordinary activities before tax widened from $1.05m to $1.37m year-on-year, on revenues of $8.87m (2011 H1: $7.48m), which fell as a result of costs of the rail road diversion, exploratory drilling and due diligence costs.

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