Golden Energy expects 'significant' earnings improvement in H1

GOLDEN Energy and Resources (Gear) expects a "significant improvement" in its revenue and earnings for H1 ended June, the mainboard-listed company announced on Sunday.

This is mainly due to the higher average selling prices arising from an increase in coal prices, as reflected in the Indonesian Coal Index 4.

The energy company had previously posted a revenue of US$593.5 million for the six-month period ended June 2020, while turning in a net profit of US$16.5 million.

Shares of Gear closed at S$0.37 on Friday.

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