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Bumi Resources targets sales of US$ 5 billion next year

30 November 2018 04:56 PM  Company: PT. Bumi Resources Tbk[BUMI]
Rp. 151  -2 (-1.31%)

JAKARTA - PT Bumi Resources Tbk (BUMI) is optimistic that the company can achieve revenues of more than US$ 5 billion in 2019. This projection is based on the assumption of a more stable coal market.

Dileep Srivastava, Director of BUMI, said there were indeed a number of challenges that had occurred recently, such as coal prices and restrictions on imports made by China. However, coal prices have started to improve at the level of US$ 100 per ton.

"Next year it should have run more smoothly. Next year, the revenue target can exceed US$ 5 billion," Dileep said as quoted by Kontan.

For capex in 2019, Bumi Resources prepares funds in the range of US$ 50 million to US$ 60 million. As an information, the company's export market is around 75% of total sales and as much as 14% is for China.

At the end of the third quarter of this year, Bumi Resources posted revenues of US$ 824.86 million. This income grew 47 times more than the revenue in the same period last year of US$ 17.37 million. (LM)

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PT. Bumi Resources Tbk [BUMI]   Rp. 151   -2 (-1.31%)