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Falling property prices and production shortfalls hurt UK Coal

29th January 2010

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UK COAL warned today that it expects to announce pre-tax losses of £115m after a difficult year.

The Doncaster-based group blamed poor performances at some of its mines, delayed planning permission and lower valuation of its properties for the anticipated loss.

In 2008, the group announced a pre-tax loss of £15m.

It said that its deep mining operations had experienced a difficult final quarter with production expected to be around 1.2m tonnes.

Production at its surface mines fell slightly f......for the full story register now for free or login below...


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