Aug 15, 2011

Saptaindra 1H net revenue rises 31%

Coal mining contractor PT Saptaindra Sejati (SIS), a wholly owned subsidiary of coal miner PT Adaro Energy Tbk recorded 1H 2011's revenue of US$190.4 million, a 29% increase over the same period of last year. 
After elimination, this translates to net revenue of US$87.6 million, an increase of 31% over the same period last year. SIS’s higher revenue is attributable to increased overburden removal and coal getting volumes following the arrival of new and larger heavy equipment. 
In 1H 2011, overburden removal increased 26% to 76.59 million bank cubic meters and coal getting increased 12% to 10.48 million tonnes.
SIS continued to prioritize Adaro Indonesia, conducting 56% of its total overburden removal and 66% of its total coal getting.

Disclosure: No position at the stock mentioned above.

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