Russia's Raspadskaya says H1 2012 net loss at $19 million
MOSCOW (Reuters) - Russian coal miner Raspadskaya (RASP.MM) said on Friday it incurred a net loss of $19 million for the first half of 2012 on the back of weak domestic demand for coking coal.
The company, in which steelmaker Evraz (EVRE.L) has a stake, also said in a report its revenue fell 24 percent to $285 million and adjusted earnings before interest, taxation, depreciation and amortization decreased 46 percent to $99 million.
Raspadskaya was Russia's largest coking coal miner until a deadly accident at its key mine in 2010 reduced its output sharply. Its net income for the first half of 2011 totaled $99 million.
The company reported in July that sluggish domestic demand for coking coal made a big dent in first-half sales, prompting it to review its spending plans.
(Reporting by Polina Devitt; editing by Vladimir Soldatkin)
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