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Further losses for NWR

World Coal,

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

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