Polish coal miners JSW and Bogdanka reported weak bottom lines on last week as one off costs and delays in investments weighed on their results.

JSW, the European Union's top miner of coking coal swung to a net loss of PLN 106 million in the second quarter due to tax costs linked to awarding free shares to employees during its July initial public offering.

The smaller Bogdanka said its net profit fell 42% to PLN 62 million in the first six months of the year. Bogdanka's results were weighed down by higher production costs tied to delays in its efforts to boost production capacity to 8 million tonnes a year.

The miner now expects the key works that have increased costs to be completed by Sept. 24.

(Sourced from Reuters)