Bayan Resources H1 revenue down

By Cepi Setiadi

IDX-listed coal producer PT Bayan Resources Tbk saw revenue in the first semester of this year down by about 20 percent to US$624.5 million from $786.7 million in the same period of last year amid falling prices.

This was revealed in the company?s interim financial report for the period ending June 2013.

Director for Corporate Affairs at the company, Jenny Quantero said that the company?s weaker performance may be attributed to the current bearish condition in the global coal market.

She declined to disclose the company?s coal production volume during the first half of this year, saying only that production performance has been in line with target.

Bayan aims to produce about 14-15 million tons of coal this year, down from last year?s 16.3 million tons. During the first quarter of this year, Bayan produced 3.3 million tons, down from 3.9 million tons in the corresponding period of last year.

Editing by Reiner Simanjuntak