Jun 10, 2011

Bukit Asam eyes 100% jump in profit

The state-controlled coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) is eyeing a 100% jump in net profit this year on the back of stronger global coal demand and selling price in the domestic market.
Referring to the target, Bukit Asam is estimated to reach Rp4 trillion net profit this year from Rp2 trillion net profit last year. By end of May, Bukit Asam's net profit reached Rp1.3 trillion. 
Analysts consensus estimates that Bukit Asam may enable to record Rp3.55 trillion net profit and Rp11.66 trillion revenue.
The miner will boost capital expenditure to Rp1.8 trillion this year from Rp1.4 trillion last year. Production is estimated to increase 23% to 17.57 million tons from 13.02 million tons of coal last year.

Disclosure: No position at the stock mentioned above.

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