UK Coal has gained £54m from land sales in the first half and the proceeds have helped pay down debt.
The company had called for an acceleration of the sell-down of land holdings after last year’s annual results. Now UK Coal is back in profits for the first time since 2007. Interim pretax profits came in at £22.1m compared with a £93.2m loss for the same period the previous year.
24/08/11 Financial Times 16, 17
Times 38, 42
Independent 38
