Baramulti reports slight increase in coal sales, lower revenue
Wednesday, February 22 2017 - 04:31 AM WIB
IDX-listed coal firm PT Baramulti Suksessarana Tbk (BSSR) said coal production last year slightly increased to 7.94 million tons from 7.75 million tons in the previous year.
BSSR said in a statement on Tuesday that coal sales volume last year totaled 8.26 million tons, up from 7.51 million tons in the previous year.
BSSR President Director Khoirudin said last month production and sales volume this year are targeted to increase to around 10.3 million tons.
Elsewhere, BSSR said that India and China was the company?s largest market last year, accounting for 38.05 percent and 31.27 percent, respectively. South Korea market accounted for 8.41 percent, while the domestic market 31.27 percent.
Despite the increase in sales last year, revenue was lower at US$242.60 million due to the weak price environment in the first semester. No comparative figure was provided.
Meanwhile profit last year increased by 3.98 percent to $27.4 million compared to $26.4 million in the previous year.
BSSR's coal concession in South Kalimantan Province is operated by subsidiary PT Antang Gunung Meratus (AGM). Meanwhile, concession located in Loa Janan, East Kalimantan, is operated by BSSR.
Editing by Reiner Simanjuntak