UK Coal posts half-year profits - graduate jobs

Graduates looking for a place somewhere in the coal industry will be interested to hear that UK Coal posted a profit of £22.1 million during the half year ended June, driven by increased production and soaring coal prices.

The figure compared with a loss of £93.2 million posted during the corresponding period in the previous year.

The group, which operates three deep mines - at Daw Mill, near Coventry, Thoresby in Nottinghamshire and Kellingley in Yorkshire - and six surface mines, saw its revenues during the first six months of this year reach £256 million, up more than 80% year-on-year.

There was a 20% increase in average coal prices.

UK Coal, which is a key supplier to coal-fired power stations in the UK, is posting a profit for the first time in four years.

The group's coal mines posted a profit of £35.2 million during the six months ended June, while output reached 4.1 million tonnes, compared with 2.7 million tonnes in the year-ago period.

Chairman Jonson Cox said the deep mine at Daw Mill experienced the highest production risk this year, caused by a change in the coal face.

Copyright Press Association 2011