Bumi?s 2008 net income drops by 18%
Wednesday, April 1 2009 - 02:01 AM WIB
IDX-listed giant coal mining firm PT.Bumi Resources reported on Wednesday a net income after tax of US$645 million, 18% lower than last year?s net income of $789 million.
Net Revenue in 2008 is a record $ 3,378 million compared with $ 2,265 million ? an increase of $ 1,112 million or by 49.1% over the previous year.
The company also reported that average FOB Price in 2008 increased by 66.9% to $ 73.34/ton from $ 43.95/ton in 2007.
Coal mined increased in 2008 by 1.7% to 52.8 million tons compared with 52.0 million tons in 2007.
Total sales volume of 51.5 million tons in 2008 dropped by 3.9 million tons compared with 55.4 million tons in 2007.
The company has guided a sales volume increase by 10% above achieved 2008 sales volume in 2009.
Bumi?s coal production comes from its two Kalimantan subsidiaries PT.Kaltim Prima Coal (KPC) and PT.Arutmin Indonesia. (denny)