Metallurgical coal producer Bens Creek Group (LON: BEN) reported a significant loss for the year to March 2023. Production is increasing and it should help the company move into profit, but there is still a lot to prove.
Bens Creek has a coal mine in West Virginia that produces coal for steel production. There were delays in ramping up production that hit the figures last year.
Last year’s revenues were $42.2m, while the pre-tax loss was $24.7m. In its initial research published in January, WH Ireland forecast revenues of $48m and a pre-tax profit of $1.4m.
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