Debts were down pounds 6m at pounds 88m, against net assets of pounds 56m. John Jermine, chief executive, said the interest cover was comfortable and the banks were happy. The dividend was passed again.
But Mr Jermine criticised government prevarication over privatising British Coal, and called for limits on the amount of coal mined by private firms to be lifted. Despite this tough environment, the UK division had won substantial contracts. The restructuring was over and the aim was to build the US business and reduce debt.Reuse content