OREANDA-NEWS. April 19, 2010. A major Ukrainian coking coal producer Chervonoarmiyska-Zakhidna No. 1 Coal Mine <SHCHZ UK U/R> announced its financial results for 2009.  The Company’s Net income amounted to UAH 22.335mn against the losses of UAH 9.456mn in 2008. The Net sales rose by 15.59% to UAH 2,163.941mn y/y.

The Company is controlled by Donetskstal group, and is one of the most technically advanced Ukrainian coal mines.

Millennium Capital sees this news as positive. Due to the coke deficit in the Ukrainian market, Millennium Capital expects continuous positive dynamics throughout the current year.