Bogdanka profit lower than expected

Coal miner Bogdanka recorded a net profit of PLN 28.8 million in the second quarter of 2014 compared to PLN 72.1 million a year earlier, the Polish Press Agency (PAP) reported basing on the company’s data. Analysts surveyed by PAP had expected the profit to come in at PLN 49.1 million. Bogdanka’s operating profit amounted to PLN 40.7 million in Q2 2014 compared to PLN 98.4 million a year earlier. Market consensus saw the result at PLN 66 million. The company’s sales revenue amounted to PLN 463.4 million in the second quarter of 2014 and recorded a 3.4 percent year-on-year increase. Analysts expected it to be PLN 454.6 million.