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Geo Energy expects 'highest quarterly results ever' for 4Q2021

Khairani Afifi Noordin
Khairani Afifi Noordin12/8/2021 07:48 PM GMT+08  • 2 min read
Geo Energy expects 'highest quarterly results ever' for 4Q2021
The company rides on strong coal prices and targets total sales of up to 3.5 million tonnes.
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Geo Energy Resources is expecting its “highest quarterly results ever” for 4Q2021, riding on strong coal prices as well as a total sales target of up to 3.5 million tonnes.

The company had achieved sales volume of over 2.3 million tonnes and a revenue of around US$200 million from October and November 2021. It targets a sales volume of 1 million to 1.2 million tonnes for December 2021, Geo Energy’s CEO and executive director Tung Kum Hon said in a statement.

“Although coal prices decreased to US$70.58 per tonne as at Dec 6 from a high of US$154.61 per tonne as at Oct 22 following China’s intervention policies, coal prices have since stabilised.

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