///////FLASH NOTICE///////9 Apr 2014 11:36
///////FLASH NOTICE///////
no its not really but a very PLAIN ENLISH NEWS item showing where we at.
POTENTIAL and current shareholders still get a bit dazed with CRES
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Coalfield Resouces plc, the former parent of UK Coal Operations posted pre tax profits of GBP 3.3 million for the year ending December 28th 2013 up from a loss of GBP 349,000 in 2012. The company also saw revenues jump to GBP 1.5 million from just GBP 8,000 the year previously.
Coalfield Resources has effectively become a property company through its 24.9% shareholding in Harworth Estates Property Group Ltd, the property business it owns jointly with its former mining companies pension fund.
Mr Jonson Cox chairman of Coalfield Resources plc said that “Over the first six months since our successful restructuring in December 2012, Coalfield Resources has worked on the forward looking strategy for the Harworth Estates property business, while also assisting our former colleagues in the mining business with the events that followed the fire at Daw Mill in February.”
Mr Cox said that “As a result of the further restructuring of the mining business, we have relinquished our part in the governance of the mines. With the recently announced rights issue enabling us to repay debt, Coalfield Resources is in a position to move forward and concentrate on developing the value of its investment in the Harworth Estates Group.”
Coalfield Resouces plc, the former parent of UK Coal Operations posted pre tax profits of GBP 3.3 million for the year ending December 28th 2013 up from a loss of GBP 349,000 in 2012. The company also saw revenues jump to GBP 1.5 million from just GBP 8,000 the year previously.
Coalfield Resources has effectively become a property company through its 24.9% shareholding in Harworth Estates Property Group Ltd, the property business it owns jointly with its former mining companies pension fund.
Mr Jonson Cox chairman of Coalfield Resources plc said that “Over the first six months since our successful restructuring in December 2012, Coalfield Resources has worked on the forward looking strategy for the Harworth Estates property business, while also assisting our former colleagues in the mining business with the events that followed the fire at Daw Mill in February.”
Mr Cox said that “As a result of the further restructuring of the mining business, we have relinquished our part in the governance of the mines. With the recently announced rights issue enabling us to repay debt, Coalfield Resources is in a position to move forward and concentrate on developing the value of its investment in the Harworth Estates Group.”
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