UPDATE 1-Bogdanka net profit at top end of forecasts

Wed Nov 7, 2012 1:54am EST

* Q3 net profit 104 mln zlotys, vs 99 mln forecast

* Q1-Q3 coal output up 58 pct to 6.1 mln tonnes

* End-Q3 coal stock surges to 166 thousand tonnes (Adds detail)

WARSAW, Nov 7 (Reuters) - Polish miner Bogdanka reported quarterly net profit at the top end of expectations, helped by higher coal production.

Bogdanka said on Wednesday it earned 104 million zlotys ($32.3 million) in the third quarter, compared with a forecast for 99 million in a Reuters poll.

Operating profit quadrupled to 126 million zlotys, while revenue rose 71 percent to 486 million zlotys, both meeting forecasts.

Production in the first three quarters rose 58 percent, surpassing the total for full-year 2011.

However, the company struggled to sell its surplus and its coal stock at end-September stood at 166,000 tonnes, compared with 25,000 a year earlier.

The group is in talks with key clients, power stations, on the pricing of contracts for 2013 deliveries.

The price of power in Poland has slumped in the past few months and power stations are trying to pass this on to coal suppliers. ($1 = 3.2217 zlotys) (Reporting by Maciej Onoszko; Editing by Dan Lalor)

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