Jun 8, 2011

Bayan eyeing Rp2.02 trillion profit

Coal miner PT Bayan Resources Tbk (BYAN), owned by businessman Dato' Low Tuck Kwong, is scouting Rp1.58 trillion-Rp2.02 trillion net profit this year, more than double from Rp740.8 billion net profit last year. 
The profit jump will be supportted by coal output increase, higher sales, and average selling price.
Bayan Director R. Soedjoko Tirtosoekotjo said in line with the target, Bayan is estimated to jack up revenue to Rp11 trillion-Rp12.6 trillion from Rp8.75 trillion.
The miner expects to reach ASP of US$95-US$97 per ton this year from US$75.5 per ton. Coal output is targetted to reach 14.4 million tons-15.5 million tons. Coal sales may reach 15 million tons-16 mllion tons from 12.8 million tons. The company plans to spend US$80 million-US$100 million capital expenditure (capex) this year. 

Disclosure: No position at the stock mentioned above.

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