TOBA Q3 coal sales increases 4.98%
Tuesday, October 29 2013 - 01:52 AM WIB
IDX-listed coal mining company PT Toba Bara Sejahtra Tbk (TOBA) posted US$297.49 million of coal sales in the first nine months of 2013 or 4.98 percent higher than $283.36 million in the same period last year, according to the company?s interim consolidation financial statements on Monday.
Most of TOBA?s coal products, 97.42 percent, were exported while the rest was for local market. Eagle Power Corporation was the biggest buyer, which spent about $75.61 million to buy TOBA?s coal. Other big buyers with more than 10 percent share of total sales were Glencore International AG, PT Pinang Export Indonesia, Dragon Energy Corporation.
Eagle Power contributed 25.4 percent of TOBA?s total sales in the first nine months of the year. Meanwhile, Glencore, Pinang and Dragon Energy contributed 13.8 percent, 13.3 percent and 11.8 percent, respectively.
TOBA?s cost of goods sold in the first nine months of the year was $244.69 million, or a little bit higher than $242.56 million in the same period last year. So, TOBA?s gross profit in the period was $52.8 million, or 24.5 percent higher than the same period last year.
Editing by Reiner Simanjuntak