Apr 26, 2011

Indo Tambang 1Q sales slightly up 2%

PT Indo Tambangraya Megah Tbk (ITMG) that is controlled by Thai Banpu Plc may post US$416 million in coal sales in the first quarter of this year, a slight increase of 2% from US$407.5 million a year earlier.
"We have yet closed our book. But, coal sales at end of March 2011 has reached 5.2 million tons with average selling price of US$80 per ton," said Indo Tambang Finance Director Edward Manurung as quoted by Investor Daily today.
Coal sales volume in 1Q 2011 fell 14.7% to 5.2 million tons from 6.1 million tons in 1Q 2010. However, average price increased 19.4% to US$80 per ton from US$67 per ton.

Disclosure: No position at the stock mentioned above.  

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