PTBA books decrease in profit despite sales volume improvement
Tuesday, October 26 2010 - 06:07 PM WIB
IDX-listed state coal miner PT Tambang Batubara Bukit Asam (PTBA) reported on Tuesday that its Jan-Sept 2010 sales increased by 12% to 9.78 million tonnes (MT) from 8.73MT in the same period of 2009.
Revenue, however, decreased by 10% to Rp.5.9 trillion (US$=Rp.8,950) from Rp.6,5 trillion a year ago.
The company sold 64 percent of its coal in domestic market in 2010 and the balance went to overseas market.
Weighted average price for domestic sales in 2010 was Rp.613,214 per tonne, a 18% decrease compared to last year?s average price, while average export price in 2010 was US$65.44 per tonne, decreasing by 6% compared to last year?s price.
Net profit decreased by 37% to Rp.1.4 trillion.
PTBA produced most of its coal from its mine in Tanjung Enim, South Sumatra. (alex)