PTBA?s Q1 profit rises on higher coal prices
Wednesday, April 25 2007 - 05:22 AM WIB
State coal miner PT Tambang Batubara Bukit Asam said its first-quarter 2007 profit is more than doubled on higher coal prices and foreign exchange gains.
Net income jumped to Rp 199 billion ($22 million) from Rp 70 billion in the same quarter last year. Sales rose 32 percent to Rp 957 billion.
PTBA plans to increase coal sales to 19 million tons in 2010, spurred by increase in coal trading volume and production from a new mine. The company sells most of its output to PLN’s subsidiary PT.Indonesia Power that operates 3,400-MW Suralaya power plant in Banten province. (godang)