ABM Investama posts 43% sales growth in Q1

Indonesia listed integrated coal mining company PT ABM Investama Tbk reported a 43 percent increase of sales growth to US$200 million in the first quarter this year compared to the previous period of $139 million.

"During the first three months, the synergy between ABM owned subsidiaries contributed positively to the performance of the ABM as the parent company. Not just in terms of increase in volume but also the continuity of multi-years contracts so that to ensure the stability of the company's sales in the coming years,? Andi Djajanegara, President Director of PT ABM Investama said in its statement made available to the Petromindo.com.

He said that ABM?s subsidiary of PT Reswara Minergi Hartama (Reswara) has signed sales contract over 50 percent or 2.9 million tons as of April from the company?s target of 5.5 million this year.

ABM also reported that production volume increased 136 percent to 827.000 tons in the first quarter from last year?s 350.000 tons.

Editing by Adianto P. Simamora