Solid Energy annual losses mount with another $110.6 mln in write-downs

Fri, 31 Oct 2014

By Paul McBeth Oct. 31 (BusinessDesk) - Solid Energy posted its third annual loss in a row as the financially distressed state-owned coal miner wrote down the value of its export operations amid lower coal price assumptions, and warned of more red ink to come. The Christchurch-based state-owned enterprise reported a loss of $181.9 million in the 12 months ended June 30, compared to a loss of $335.4 million a year earlier, it said in its annual report tabled in Parliament today. The company's board doesn't anticipate it will return to prof...

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