JSW Profit Jumps as Polish Coal Producer Prepares IPO
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Jastrzebska Spolka Weglowa SA said first-quarter profit jumped fourfold as the European Union’s largest coking coal producer benefits from rising prices before its Warsaw share sale, planned for next month.
Net income rose to 619 million zloty ($221 million) from 149 million zloty a year earlier, the company known as JSW said at a press conference in Warsaw today. Revenue increased 53 percent to 2.27 billion zloty and earnings before interest, taxes, depreciation, and amortization climbed to 990 million zloty from 410 million zloty.