Reuters
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Singapore Hot Stocks-Sakari rises on strong Q4 earnings
Tue, Feb 14 20:41 PM EST

SINGAPORE, Feb 15 (Reuters) - Shares of Sakari Resources Ltd rose as much as 3.8 percent after the Singapore-listed coal miner reported better-than-expected quarterly earnings.

By 0128 GMT, Sakari's shares were up 3.4 percent at S$2.42, with more than 6.0 million shares traded, making it the third most actively traded stock by value on the Singapore exchange.

Sakari's October-December net profit more than doubled to a quarterly record of $73 million from a year ago, lifted by sales of higher value coal from its Sebuku mine in Indonesia.

CIMB Research, which has an outperform rating on Sakari, said the miner's earnings beat its expectations on the back of higher margins and average selling prices, and expects its Sebuku mine to further drive earnings growth for this year. (Reporting by Charmian Kok; Editing by Anshuman Daga)


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