Bogdanka Will Use 53.6 Million Zloty From Property-Tax Reserves

Lubelski Wegiel Bogdanka SA (LWB), a Polish coal producer, will use 53.6 million zloty ($17 million) from reserves set aside for property tax after a court decision last September, the company said in a regulatory statement yesterday.

As a result, profit will increase by 58.8 million zloty, while 16.6 million zloty will be kept in reserve for other disputable tax liabilities, Bogdanka said.

To contact the reporter on this story: Dorota Bartyzel in Warsaw at kandrusz@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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