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Winsway Coking Coal Holdings Ltd Comments On FY 2012 Earnings Guidance

Friday, 18 Jan 2013 09:00am EST 

Winsway Coking Coal Holdings Ltd announced that for fiscal 2012, it expects to record a consolidated loss as compared to a consolidated profit recorded for fiscal 2011. The Board has considered the market conditions and other factors that impacted the Company's results compared to the fiscal 2011, and believes that the performance is primarily attributable to: a decrease in the price of and a fall in demand for coking coal in the Company’s principal market, the People’s Republic of China, in 2012 as a result of a decline in demand from steel mills and coke plants under sluggish economic conditions; an increase in the Company's finance costs due to the issue of senior notes in April 2011; and an increase in the Company's finance costs and transaction expenses due to the acquisition of Grand Cache Coal Corporation in March 2012. 

Company Quote

-0.0050 -1.96%
24 Dec 2014