Bayan Resources H1 net profit soars
Friday, July 29 2011 - 03:29 AM WIB
Indonesia-listed coal mining group PT Bayan Resources Tbk booked net profit of Rp991.27 billion (US$ = Rp 8,500) in the first half 2011, increased 474% from Rp172.57 billion in the same period of last year.
The company's revenue jumped 68% to Rp6.37 trillion from Rp3.79 trillion a year earlier while cost of revenue rose to Rp4.39 trillion from previous Rp3.11 trillion.
The company is targeting to produce 14.5-15.5 million tonnes of coal for this year.
Last year the company produced 12 million tonnes of coal from its eight coal mine subsidiaries, including PT Gunungbayan Pratama Coal, PT Perkasa Inakakerta, PT Wahana Baratama Mining, PT Teguh Sinar Abadi and PT Firman Ketaun Perkasa. (denny)