PT ABM Investama Tbk (ABMM), an Indonesian service, contracting and coal mining producer, has set sights on 13 MnT of coal production in this year, Kontan News reported citing the company’s finance director, Adrian Erlangga Sjamsul.
The Jakarta-based company delivers coal to domestic and overseas markets including China and India.
The company achieved coal output and sales exceeding 10 MnT last year, as per Kontan. Earlier the company had produced 7.94 MnT of coal in CY17.
Sjamsul stated that the company would continue to improve its operation and efficiency this year amidst declining trend of coal prices in the global market.
Further, he claimed that CY18 had been the company’s best performing year in terms of coal output and sales, which in turn, aided the company to reach a rise in net profit and revenue.
Reportedly, the company posted a year-on year increase in net profit to USD 65.50 million in CY18 from USD 5.57 million in CY17. Revenue rose to USD 598.84 million year-on-year in CY18 from USD 539.33 million.
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