Sunday, 26 May 2013

Czech Coal raises brown coal production

ČTK |
11 October 2012

Most, North Bohemia, Oct 10 (CTK) - Czech Coal raised brown coal production by 2.2 percent to 14.15 million tonnes last year and maintained gross earnings at 2010's level of Kc3.3bn, the company said on its website Wednesday.

Sales of Czech Coal totalled Kc13.15bn, an annual hike of Kc601m.

After-tax profit reached Kc788m, up from Kc668m in 2010, according to the annual report.

The report said Czech Coal had distributed Kc900m in dividends among its shareholders (Pavel Tykac and Jan Dienstl) last year. This year's dividend payout increased to Kc1.1bn.

Vrsanska uhelna mine is the main contributor to the production growth last year, while Litvinovska uhelna cut production from 4.6 to 4.1 million tonnes.

Czech Coal reduced staff numbers from 5,055 to 4,457 owing to restructuring involving a gradual sale of the company's units.

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