PTBA?s first-half revenue up 13 percent

State owned coal mining company PT Bukit Asam Tbk (PTBA) said that revenue in the first half of this year increased by 13 percent compared to the same period of last year on higher sales volume.

The company said in a statement that revenue in first six-month of 2012 increased to Rp 5.79 trillion compared to Rp 5.11 trillion in the same period of last year.

Sales volume also increased by 13 percent to 7.36 million tons from 6.54 million tons in the same corresponding period.

The company?s average coal selling price during the first half was Rp 785,043 per ton, up slightly by 0.5 percent from Rp 781,228 per ton in the first-half of last year.

First-half net profit, however, declined by 3 percent to Rp 1.56 trillion from Rp 1.61 trillion in the same period of last year.

The company said that coal production rose by 14 percent during the first half to 7.08 million tons compared to 6.19 million tons in the same first-half of 2011. The company also purchased coal from third parties during the period, totaling 0.81 million tons, or a 144 percent jump from last year?s 0.33 million tons.

Editing by Reiner Simanjuntak