Sadovaya increases coal sales 22% mom in March

Sadovaya Group (SGR PW) disclosed sales of 74.3 kt of coal in March, up 22% mom, according to an announcement yesterday. Coal mining recovered 47% mom to 39.8 kt on a low base in February 2012. Coal production from waste reprocessing decreased by more than a third mom to 1.8 kt. March figures imply total coal sales declined by 33% yoy to 193 kt in 1Q12, while coal mining grew 6.7% to 103 kt and production from waste processing added 3.4% yoy to almost 8 kt.