Kompania Węglowa counting the losses of coal mining

The present financial results of Kompania Węglowa (KW) do not leave any illusions - the coal-mining program is in a state of collapse. It did not take a prophet to realize that sales would drop, however a decrease of almost a million tonnes of coal could simply shatter the holding. In January the mines that make up KW sold 5.2 million tonnes of coal altogether and in February only 4.3 million. With each month the situation may deteriorate since sales are usually lower in spring and summer. In February KW recorded losses of zł. 100 million and in March this figure will further increase to zł. 147 million, bringing the total figure to nearly zł. 250 million. By the end of 2003, KW had forecast a 12-month loss of zł. 571 million, which means the company has fulfilled its half-year loss predictions within just two months. If the present situation fails to change, and it probably will, the losses may amount to zł. 1 billion by the end of the year. (Rzeczpospolita, p. B4) A.C.