Coal Energy increases coal output by 2.8x y-o-y in FY2011

Coal Energy S.A. (WSE: CLE PW), Ukraine’s third largest private coal producer by reserves at end-2010, raised its coal production by 2.8x y-o-y to 1.6 mln mt in FY2011 (July 1, 2010-June 30, 2011), the company announced yesterday in a press release. In July, Coal Energy increased coal output by 86.5% y-o-y and 2.0% m-o-m to 129.4 ths mt. Coal Energy floated a 25% stake to Warsaw Stock Exchange in August 2011 for USD 79.2 mln.