Huscoke Resources (00704) said the group will likely record a loss for the year ending 31 December 2014. The loss is principally attributable to the continuous drop in coke prices and high cost of production that lead
to a substantial drop in gross profit margin; the drop in the quantities of coke sold; and the impairment on items of property, plant and equipment and goodwill.
Based on the unaudited management accounts of its main operating subsidiary in China, the company said there is a loss of around RMB80 million for the January to September period.
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