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GEAR reports record FY2021 earnings

The Edge Singapore
The Edge Singapore • 1 min read
GEAR reports record FY2021 earnings
The company will not be paying a dividend for FY2021 as it wants to acquire other mines
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Coal and gold miner Golden Energy and Resources has reported earnings of US$171 million for 2HFY2021 ended Dec 2021, up 113.2% y-o-y.

Revenue in the same period was US$1.07 billion, up 32.3% y-o-y, thanks to higher coal prices amid a pandemic-induced supply shortage.

For the whole of FY2021, earnings surged 629% y-o-y to US$251.3 million – its all-time high. Revenue was up 61% to US$1.87 billion, also a record.

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