Atlantic Coal Posts Massive Growth for 2009

31 May 2010 (Last Updated May 31st, 2010 18:30)

Atlantic Coal has posted a 400% increase in revenue for the year ending December 31. The company’s revenue for 2009 stood at $9m compared to $2.2m in 2008. The boost in revenue has been attributed to an increase in coal sales from its flagship Stockton Colliery project in Pennsylv

Atlantic Coal has posted a 400% increase in revenue for the year ending December 31.

The company’s revenue for 2009 stood at $9m compared to $2.2m in 2008.

The boost in revenue has been attributed to an increase in coal sales from its flagship Stockton Colliery project in Pennsylvania, US.

Atlantic also recorded a gross profit of $1.6m in 2009 compared to a gross loss of $5m a year ago.

Production at the Stockton Colliery increased to 232,499t of run-of-mine coal compared to 49,992t in 2008, the company said.