15 June 2010 – pre-close trading update
An update on trading has been provided covering the 12 months to 31 May 2010, ahead of the results announcement on 14 September. Overall results are likely to be in line with management expectations.
A charge of around £230k will be made with regards to aborted deal costs following the end of merger discussions with UK Coal. The Board is confident about prospects for the future and net debt at the year end was £88m, also in line with management expectations, which is reassuring. HOLD.