PTBA books higher earnings on higher sales
Friday, July 29 2005 - 02:04 AM WIB
JSX-listed state coal mining firm PT. Tambang Batubara Bukit Asam (PTBA) reported first half net earnings of Rp.170 billion or Rp.78 per share (US$ = Rp.9, 800) significantly higher than last year?s earnings of 112 billion or Rp.53 per share.
In an unaudited financial report posted in local media Friday the company reported that the increase in earning came from higher sales of Rp.1.3 trillion versus 1.1 trillion a year ago period.
PTBA operates huge coal mining in South Sumatra but its output is limited to around 10 million tones per annum due to railway transportation constraint. PTBA is contracted to sell around 6-7 million tones of its output annually to Indonesia Power?s Suralaya 3,400 MW power plant in Banten.(alex)