Kopex with net loss of PLN 547 mln in H1

Polish mining equipment producer Kopex posted a net loss of PLN 547.3 million in H1 2016 as the firm turned over PLN 330 million in non-cash impairments, the company said in a report. Last year, Kopex had a net profit of PLN 23 million. Consolidated revenues stood at PLN 446.3 million, which means a 25 percent decline from H1 2015. EBITDA loss amounted to PLN 354.3 million, a report found. Kopex has warned that impairments could take even PLN 535 million from the H1 profit and loss. Kopex is Poland's biggest mining machinery producer.  The company said that it had recorded lower revenues and worse financial results, stemming from the unfavorable situation on domestic and global coal markets.