Lower prices and sales volumes pushed second-quarter revenue at Western Canadian Coal Corp. down by 41 per cent, the company announced yesterday, along with a dramatic decline in profitability from the same time last year. The B.C.-based company's revenue fell to $75.7-million from $130.4-million in the second quarter of 2008, as tonnage sold fell to 435,000 from 583,000 and average prices fell to $174 from $224 a tonne. The coal company's profit was $3.4-million or 2 cents per share in the three months ended June 30. A year earlier, profit was $59.7-million or 27 cents per diluted share, boosted by a $22.8-million tax recovery. The company ceased coal extraction and hauling at its Brule mine in mid-March because of a buildup of inventory, resulting in a 227,000-tonne production reduction. WTN (TSX) closed at $3.25, down 12 cents.
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