Dec 10, 2010

Bukit Asam targets coal output up 15%

The state-owned coal miner PT Tambang Batu Bara Bukit Asam Tbk (PTBA) targets its production volume to increase approximately 14%-15% in 2011 from year-end forecast at 14 million tons.
President Director Sukrisno said the company expects production volume to increase around 10% to 14 million tons from 12.5 million tons last year. Meanwhile, for next year, the company expects it to increase about 14%-15%.
According to him, the company still can not estimate the 2011 revenue and profit because it really depends on the average coal prices. However, he expressed his optimism that the company's operational performance will increase next year.
"[Profit and revenue] next year is still unknown because it depends on the average price. Right now, the average price is around Rp615,000 [per ton]. Yet, price keeps fluctuating. It goes up, but don’t know much. In term of operations, we believe it to increase," he said.
Based on the company’s financial data, net income until the third quarter of 2010 fell 38% to Rp1.39 trillion from Rp2.23 trillion in the first nine months last year.

Disclosure: No position at the stock mentioned above.  

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