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Cita Mineral obtains contract export extension of 3.28 million tonnes MGB

18 October 2018 02:48 PM  Company: PT. Cita Mineral Investindo Tbk[CITA]
Rp. 1,520  +35 (2.36%)

JAKARTA - PT Cita Mineral Investindo Tbk (CITA) has obtained a contract to export metallurgical grade bauxite (MGB) of 3.28 million tonnes for the period 2018-2019. Through the extension of the export contract, the company is optimistic that its performance will rise positively by the end of 2018 and 2019.

Lim Hok Seng, Director of PT Cita Mineral Investindo Tbk (CITA) said that the company is optimistic that it can reach its sales target in 2019 through an extension of the certainty contract in October 2018. "Certainty the contract extension for 2019 is expected to have a positive impact on revenue," he said in Jakarta.

In October 2017, Cita Mineral obtained a MGB export quota of 3.56 million tons, which supported an increase in net sales in the first half of 2018 of Rp 887.2 billion. In the same period of 2017, net sales amounted to Rp 231.2 billion, while gross profit was IDR 396.4 billion in the first half of 2018, up 510% from IDR 64.9 billion in the same period of 2017. (LK)

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PT. Cita Mineral Investindo Tbk [CITA]   Rp. 1,520   +35 (2.36%)