Coal miners revenue soars

Polish coal miners sold 22.4 million metric tons of coal at end-April, down 1.4 million tons y/y, the Industry Restructuring Agency (ARP) said. Despite the lower volumes, revenues, boosted by the 40.9 percent increase in coal prices, soared by 32.8 percent to PLN 7.2 billion. Net profits of coal miners grew to PLN 1.26 billion for the first four months of the year. Coal inventories stood at 2.1 million tons, down by 2.5 million tons y/y. The employment in the sector stood at 82.8k at end-April, down by 1.8k y/y.