Berau coal sales up 39 percent in Q1

The publicly-listed heavy equipment supplier PT United Tractors Tbk (UNTR) reported Friday that its subsidiary coal mining firm PT Berau Coal had sold 1.7 million tons of coal in the first quarter of 2003, a 39 percent increase compared to last year's corresponding period sales of 1.3 million tons.

UNTR said aside from exported 64 percent of its products in the quarter, Berau had also doubled its domestic sales compared to the same quarter last year.

"Berau has started to deliver its products to Suralaya power plant under a new long-term supply contract," UNTR said in its quarterly report.

Earlier, Berau's president director Jeffrey Muljono said the contract volume with the power plant would be doubled to 1 million tons of coal in 2003.

UNTR further said Berau had posted revenue of Rp310.58 billion in the quarter, or 20 percent up from last year's period of Rp257.86 billion.

"Berau's strong revenue also resulted from stable prices in domestic market on stronger rupiah," UNTR said, adding that in comparison, the international spot coal prices weakened in the quarter.

Berau Coal operates a coalmine in Berau regency in East Kalimantan. UNTR has a 60 percent shareholding in the company. (robert)