Bumi?s output hits 17 million tonnes in Q3
Saturday, October 22 2011 - 03:48 AM WIB
The company?s corporate secretary director, Dileep Srivastava as quoted by The Jakarta Globe said that Bumi sold 16.5 million tons of coal on average price of US$92 to $93 per tonne in the third quarter.
Dileep, however declined to elaborate its total sales in the third quarter, arguing that as an IDX-listed company, Bumi would tender its financial report to the Indonesia Stock Exchange (IDX) by the end of November.
?We will make a statement by the end of November, but we are happy to say that we have outperformed in terms of sales volume as well as production in the third quarter,? Srivastava said.
Bumi produced 14.4 million tonnes in the first quarter before jumping it to 15.2 million tonnes in the second quarter. The company?s booked net income in the first half of about US$275 million.
Bumi has coal reserves estimated at 2.9 billion metric tons.
Srivastava argued that Bumi expected to surpass market expectations of its net income this year as the company planned to sell 64 million tonnes of coal this year, up from 60 million tonnes last year.
He said a number of analysts surveyed by Bloomberg estimated net profit of Bumi was about $470 million to $480 million for the full year. (*)