Garda Tujuh targets nine fold profit increase
Wednesday, June 27 2012 - 10:42 AM WIB
IDX listed PT Garda Tujuh Buana Tbk said today that it expects to book US$ 180 million worth of profit (EBITDA) this year, nine fold increase from its booked US$20 million last year.
?This is not over optimistic, as we've booked about US$100 million profit in the first semester of this year,? said company commissioner Pardeep Dhir in Jakarta, adding that market diversification, increasing domestic sales to more than the currently 5 percent would be one of its sales strategies.
Garda Tujuh aims to rise its 4,471 - 4,800 kcal/kg cv coal output to 3 million tons this year, having produced 1.2 million tons until the end of the second quarter.
The company expects to sell a total of 6 million tons of coal in 2012, half of it acquired through coal trading business. Its average selling price stands between US$39 and US$41 per ton.
The company is known to hold an IUP permit valid until 2021 for a coal concession in Pulaun Bunyu, East Kalimantan with an estimated reserve of 168 million tons.
Editing by Audy Zandri