Berau Coal posts 3% increase in 9-month revenue
Friday, October 31 2003 - 12:21 AM WIB
Publicly listed heavy equipment supplier PT United Tractors Tbk reported Thursday that its coal mining unit PT Berau Coal posted net revenue of Rp 996.61 billion (US$ = Rp.8,500) in the first nine-month of 2003 or 3 percent up from last year?s period revenue of Rp 965.0 billion due to increase in coal sales and export.
UT said during the period, Berau Coal?s coal sales had increased by 15 percent to 5.8 million tons of which 69 percent or approximately 4.6 million tons were accounted for exports.
?The figure for domestic sales also increased by 26 percent to 1.2 million tons,? UT said in its report to the Jakarta Stock Exchange.
UT also said that the international steam coal prices, which have been improved since the second quarter this year, were still continuing in the third quarter. ?This trend will continue to the first quarter next year,? UT added.
Berau Coal operates coal mines in Berau Regency, East Kalimantan. UT has 60 percent shareholding in the company.(robert)