PT Bumi Resources Tbk (BUMI), Indonesia's largest thermal coal, reported a steep jump in net income by 63.39% last year supported by higher operating income and revenue.
Based on a financial report published today, BUMI had booked net income to US$311.18 million in 2010 from US$190.45 million in 2009.
Besides driven by jump of operating income, the coal company whose 25% is controlled by Vallar Plc, London-based publicly company, also booked derivative transaction income, income on investment disposal, and net income from association company by US$554.95 million.
However, the interest expense and financial of BUMI also soared 237.97% to US$630.34 million from US$186.51 million.
In a term of operational, the operating income of the coal company grew by 72.15% to US$1.09 billion from US$638.25 billion leading to jump in operating margin to 25% from 17.41%. Meanwhile, Bumi’s gross income stood up by 45.54% to US$1.63 billion from US$1.12 billion. Moreover, the revenue of Bumi also climbed 19.07% to US$4.37 billion from US$3.67 billion.
Disclosure: No position at the stock mentioned above.
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