[ET Net News Agency, 21 January 2013] Winsway Coking Coal (01733) said it expects the
Group to record a consolidated loss for the financial year ended 31 December 2012 as
compared to a consolidated profit in the previous financial year.
The anticipated turnaround to loss is primarily attributable to a decrease in the price
of and a fall in demand for coking coal in Winsway'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 Group's finance costs due to
the issue of senior notes in April 2011 and an increase in the Group's finance costs and
transaction expenses due to the acquisition of Grand Cache Coal Corporation in March 2012.
The Board also notes the recent press release in relation to the interruption of coal
supply by a certain producer in Mongolia. Winsway clarifies that the producer mentioned is
not one of the Group's suppliers and such interruption is not expected to have any adverse
impact on the Group. (HL)
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01733 E-COMMODITIES
Nominal 
1.400 +0.020 (+1.449%) Others
21/01/2013 08:24
Winsway (01733) tips turnaround to loss for FY2012
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