PTBA?s net profit soars on improving selling price
Friday, October 30 2009 - 01:07 AM WIB
IDX-listed state coal miner PT Tambang Batubara Bukit Asam (PTBA) reported on Thursday that its 9-month net profit soared by 68 .6% to Rp.Rp.2.23 trillion (US$= RP.9,650), mainly due to increasing selling price.
Average price for nine month increased by 41.4% to Rp.750,000 per tonne while production during the period increased by 11.1% to 8.59 million tonne. Sales volume, however, decreased by 6.7% to 8.73 million tones, reflecting weaking demand by export market which declined to 23.2%.
The company?s revenue increased by 32% to Rp.6.55 trillion.
The company, however, is optimistic its 2009 sales target of 13.2 million tones this year as it would be able to supply 6.1 million tonnes of contracted coal to Indonesia Power?s Suralaya power plant.(denny)