PTBA says revenues may up 58.47% in first semester

State-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) is expected to book a total revenue of about Rp 2.9 trillion in the first semester of this year, an increase of 58.47 percent from Rp 1.83 trillion in the same period, last year.

The company?s President Director Sukrisno said in Jakarta on Monday that the total sales had risen significantly during the first half thanks to an increase in coal prices.

He said that the company?s net profit is also expected to almost double to Rp 700 billion during the January-June period from about Rp 302 billion in the same period, last year.

Sukrisno said that the publicly listed coal mining company would increase its coal exports in the second semester to further take the advantage of the surging coal price in the world market.

?Coal exports are expected to account for 40 percent of the total sales this year, up from about 32 percent last year,? he said.

He said he was optimistic that the sales would be able to increase by 70 percent to Rp 7 trillion this year, if the company could meet the sales target of selling 13 million tons during the year. (*)