The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a 44.4% increase from 4.5 million tons a year ago.
In line with the sales growth, the company's revenue may surpass Rp5 trillion in 1H 2011, a 31.93% increase from Rp3.79 trillion in 1H 2010.
President Director Sukrisno said the company may book Rp1.5 trillion net profit, a steep jump of 65.18% from Rp908.11 billion.
As a result, he is optimistic that Bukit Asam may reach its net profit target of Rp3 trillion by end of the year from 2.01 trillion last year. "Revenue is targeted to reach Rp11 trillion."
Disclosure: No position at the stock mentioned above.
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