United kingdom Coal up 13% following swinging into profit

Uk Coal (LON:UKC) turned a ￡124.six million loss in 2010 into a pre-tax gain of ￡58 million final calendar year as manufacturing and income jumped.

The United Kingdom’s number 1 coal miner saw revenue leap to ￡488.2 million from ￡351.2 million. General creation improved by 300,000 tonnes to 7.5 million tonnes.Stone Crusher

Because of the near in London, United kingdom coal was investing up 13% at ￡0.fifteen, around its best for that day on heavy volumes. The mining sector was typically positive on Friday when using the TSX S&P Global Mining index up 0.7%

The stock is still showing losses for 2012 - it is down 47% 12 months to date giving it a market value of ￡44.9 million.Stone Crusher Plant

The strong performance is good news to the British coal mining industry as a whole.

Earlier this month ThisisMoney reported “the very survival of Britain’s coal mining industry depends on the success of a massive restructuring of United kingdom Coal”.Ball Mill Design