Tavantolgoi JSC presented its financial results for the first half of 2021. This year sales revenue and net profit were at the lowest performance in five years.
In particular, the company's sales revenue reached MNT 69 billion, a decrease of 22.9 percent from the same period of the previous year, and net profit of MNT 1.9 billion or MNT 36.2 per share, decreased by 51 percent from the first half of 2020.
The company has recently reported increasing unit costs due to rising coal mining costs. Tavantolgoi JSC's financial performance was also affected by the disruption at the Mongolian-Chinese border due to Covid-19. In particular, the Mongolian General Customs Administration reported that in June 2021, 648.7 thousand tons of coal was exported to China, a decrease of 71.16 percent compared to the same period of the previous year.
As for the share price, it has maintained its first level of the year and as of July 21, 2021, it has a price of MNT 7,000.0. However, further financial results and expectations are expected to affect stock prices in the second half.