Jul 29, 2011

Bayan Resources 1H profit skyrockets

Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by Dato' Low Tuck Kwong, reported a steep jump in net profit of 503.25% in the first half of this year as revenue rose.
Bayan booked Rp971.90 billion net profit in 1H 2011 or Rp292 earning per share from Rp161.11 billion in 1H 2010 or Rp48 earning per share.
Gross profit surged 188.84% to Rp1.97 trillion from Rp682.88 billion, while revenue rose 68.07% to Rp6.37 trillion from Rp3.79 trillion.
Disclosure: No position at the stock mentioned above.

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