Embattled Czech coal miner, New World Resources (NWR) has posted yet another quarterly net loss, as the company pushes ahead with a capital restructuring plan.
NWR posted a €30.2 million net loss over Q2 2014 – higher than the €29.8 million loss analysts at Reuters had expected.
Revenue fell to €173.8 million from €222.8 million a year previously and below the €176.6 million expected by analysts.
The company has been hit hard by the prolonged downturn in coal prices. On 20 August, shareholders approved a planned rights issue to raise €118 million for the firm.
Edited from various sources by Sam Dodson
Read the article online at: https://www.worldcoal.com/coal/21082014/nwr-posts-another-quarterly-loss-1236/