Half year loss but Solid Energy forecasts profitability for full year
26 Mar 2008
Energy producer, Solid Energy New Zealand Ltd, has produced a net loss after tax of $2.7 million for the half year ended 31 December 2007.
The result, while disappointing, is not unexpected and Solid Energy is forecasting a return to profitability for the full year and a strong result in the 2009 year as Stockton Opencast Mine returns to full production and the benefits of strong international coal prices flow through into the business.
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