Vinacomin Revenues +1.8 per cent at US$672.9 Mln in Q1

2:30:24 PM | 4/22/2009

The Vietnam National Coal - Mineral Industries Group (Vinacomin), the country’s biggest coal producer, gained a gross revenue of VND11,372 billion (US$672.9 million) in the first quarter this year, up 1.8 per cent on year, General Director Tran Xuan Hoa said

Of the total, Vinacomin made coal revenue of VND7,165 billion (US$423.94 million) and of electricity production VND240 billion (US$14.2 million) in the quarter, meeting 24.6 per cent and 14 per cent of this year’s target, respectively, Hoa said.

The group has attained a pre-tax profit of VND247 billion (US$14.61 million) in the three-month period, including VND160 billion (US$9.46 million) from coal production, he attributed.

Mr. Hoa stressed Vinacomin targets coal sales will hit 42 million tons in the second quarter this year, including 22 million tons for exports.

This year, Vinacomin aims for gross revenue of around VND46,798 billion (US$2.77 billion).

The group targets to produce 40 million tons of coal this year, including 20.5 million tons for exports and 19.5 million tons for domestic sales. (tinnhanhchungkhoan.com.vn)