JSW miner likely to suffer net loss in Q3 - CEO
September 23, 2013
Coal miner JSW will most likely suffer a net loss in Q3 but Q4 should be better and will determine full year's results, CEO Jaroslaw Zagorowski said.
"Q3 will be one of the worst in our company's history," Zagorowski told PAP Polish news agency".
JSW is implementing some adjustment efforts, such as unit production cost reduction, to improve the situation but they take time to bring effects, the CEO said. JSW "is close" to reaching a 5% annual reduction in unit production costs this year.
Q4 should be better as coking coal prices should go up q/q.