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Atlantic Coal further trading update

Published by
World Coal,

Atlantic Coal has reported that its unaudited turnover for the nine months ended 30 September 2015 has seen an 26% increase to approximately US$17.8 million. Whereas in the same period last year it was approximately US$14.1 million.

The company has indicated it is seeing positive results, including: continuing high levels of production and sales for both clean coal and ROM coal; good level of inventory going into the high demand winter period; increasing sales prices as from 12 October by US$10/short t on clean coal; and increasing efficiencies in production and transport.

The Board of Atlantic Coal is confident that the company’s turnover will at least equal the first half’s turnover, following the company’s trading performance and the preceding positive results.

Atlantic Coal's Managing Director, Steve Best, said: "I am pleased to report an excellent increase in turnover for the nine months to 30 September 2015, reflecting our impressive y/y increase in production and sales, as reported on 1 October 2015. Compared with the same period in 2014, we have increased turnover by over US$3.7 million, an increase of circa 26%. This amount is only just short of the total turnover for 2014 of US$18.4 million and we therefore look forward to exceeding our 2014 revenues in 2015. Going forward, we intend to include estimates of the Company's unaudited turnover within our quarterly updates.”

Edited from press release by Harleigh Hobbs

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