The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above last year's figure. Bukit Asam booked Rp2 trillion net profit last year.
According to the company's Corporate Secretary Achmad Sudarto, Bukit Asam is scouting a minimum 10% growth in net profit next year, giving the company an opportunity to reach Rp3.3 trillion.
"We target a minimum 10% increase in revenue next year," he said as quoted by Kontan daily. In 2011, Bukit Asam expects to book Rp11 trillion revenue.
To meet the target, Bukit Asam will jack up coal output and sales at least 10%-20%. In 2011, Bukit Asam has set target of 15 million tons-16 million tons coal output with 16 million tons-17 million tons sales.
Disclosure: No position at the stock mentioned above.
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