Berau books increased 2003 revenue
Saturday, February 7 2004 - 12:32 AM WIB
East Kalimantan coal producer PT. Berau Coal booked unaudited revenue of Rp. 1.31 trillion (US$=Rp 8,400) in 2003, slightly increasing compared to previous year?s revenue of 1.29 trillion, parent company JSX-listed heavy equipment maker PT. United tractors Tbk. (UNTR) said in its recent report.
UNTR said the increase in revenue was due to 2003 increased coal sales to 7.7 million tons from 6.9 million tons in 2002.
UNTR said Berau Coal exported 70 percent of its production in 2003, while domestic sales grew by 28 percent to 2.3 million in 2003.
UNTR predicted that in 2004 coal prices would continue to remain high due to strong demands from Asian power producers.
UNTR has a 60 percent stake in Berau Coal, while local firm PT Armadian Tritungggal and Japan trading powerhouse Nissho Iwai Corp hold 30 percent and 10 percent, respectively. (alex)