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Golden Energy and Resources posts 73% drop in 1Q earnings to US$7.2 mil

Stanislaus Jude Chan
Stanislaus Jude Chan5/15/2019 07:11 PM GMT+08  • 3 min read
Golden Energy and Resources posts 73% drop in 1Q earnings to US$7.2 mil
SINGAPORE (May 15): Golden Energy and Resources (GEAR) saw its earnings fall 73.1% to US$7.2 million ($9.9 million) for the 1Q19 ended March, from US$26.8 million a year ago.
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SINGAPORE (May 15): Golden Energy and Resources (GEAR) saw its earnings fall 73.1% to US$7.2 million ($9.9 million) for the 1Q19 ended March, from US$26.8 million a year ago.

Earnings per share (EPS) dropped to 0.31 US cents in 1Q19, from 1.14 US cents in 1Q18.

The decline comes despite a modest 1.2% increase in revenue to US$276.2 million for 1Q19, as coal production rose 52.9% to 7.1 million tonnes during the quarter but was dragged by lower average selling price.

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