Avdiivka Coke expects net loss of up to UAH 1.2 bln in 2011

Avdiivka Coke (UX: AVDK UK) expects a net loss of up to UAH 1.2 bln, according to filings published by the company yesterday. Avdiivka Coke said it plans to increase coke output in 2011 by 29.5% y-o-y to 4.643 mln mt. Andriy Gerus: We do not place any confidence in the company’s guidance, as they are drawn up to fulfill technical legal requirements. In 2010, the company forecasted a loss of UAH 800 mln, but in fact posted a net loss of only UAH 20.5 mln.