Insani Baraperkasa doubled H1 coal production and sales
Thursday, July 28 2011 - 01:51 AM WIB
?Production output grew by 103.9 percent to 2.06 million tonnes in 1H2011 from 1.01 million tonnes produced in 1H2010. Production has already reached 58.0% of FY2011 volume target of 3.55 million tonnes,? the company said on Wednesday.
New production from Handil Bakti pit opened in April 2011, contributing to around 26,000 tonnes per month within its first 3 months of operation, the company said.
Average production volume of 343,000 tonnes in the first 6 months of FY2011 is already well above the pro-rated monthly estimate of 296,000 tonnes. ?We are expecting volume to steadily increase in the later part of the year with the addition of heavy equipments and the opening of new production blocks,? it said.
Average coal selling price during first half of the year reached US$54.4 per tonne, an increase of 16% compared to the same period last year which was $46.9 per tonne.
Revenue, operating profit and net profit in the first half 2011 reached all time high of Rp981.0, Rp304.0 billion and Rp214.2 billion (US$ = Rp 8,500), representing significant 137.2%, 201.7% & 208.1% Year-on-Year growth respectively. (denny)
| Period | 1Q2011 | 2Q2011 | 1H2011 | FY2011 (F) |
| Sales Volume (MT) | 828,497 | 1,210,131 | 2,038,572 | 3,500,000 |
| Av. Selling Price | 50.3 | 58.5 | 54.4 | 59.8 |
| Av. Production Cost1 | 24.9 | 26.4 | 25.7 | 28.4 |
| Net Profit | 82.0 | 134.4 | 214.4 | 413.0 |