Sakari?s Q3 NPAT hits $37 million

SGX-listed coal company, Sakari Resources Limited, previously known as Straits Asia Resources, has posted a net profit after tax of S$37 million for the quarter that ended September 30, up 59 percent from $23.2 million in same period last year.

The company?s year to date net profit increased 103 percent to $117 million from $57 million last year.

The year to year coal product reached 8.2 million tons which is record achievement, the company said in a press release dated on Oct 31."Continuing strong performance reflects successful outcomes and delivery from all part of the business."

Sakari?s group of Jembayan mine and Sebuku mine has coal reserves of 142 million tons.

The company reported the strip ratio of Jembayan was 10.96 for the third quarter, while the Sebuku mine?s strip ratio decreased to 3.73 from the last year?s of 6.47. It said that the decrease of Sebuku?s strip ratio was due to the benefits of its advanced waste mining in the first third months of this year.

It said that Sebuku began mining coal from its Northern Leases The company also announced the change of its name from the Straits Asia Resources to Sakari Resources Limited. (adianto)