PTBA's first half profit rises 95 percent

State-owned coal mining firm PT Tambang Batubara Bukit Asam (PTBA) reported  a 95 percent increase in its net profit during the first half of this year on the back of the surge in coal prices.

 

The Tanjung Enim, South Sumatera-based company said that net profits rose to Rp 302.22 billion in the first half of this year from Rp 155.16 billion during the same period in 2006. The net earning per share increased to Rp 131 from Rp 67.

 

Speaking to reporters on Monday, PTBA’s president director Sukrisno said that total sales increased by 25 percent to Rp 1.82 trillion in the first six months of this year from Rp 1.45 trillion in the same period, last year.

 

Sukrisno said that the company expected to increase sales by about 20 percent this year to Rp 4.2 trillion from Rp 3.53 trillion last year, with sales volume being projected to increase to 11 million tons from 9.9 million tons. (godang)