Jan 23, 2012

Bukit Asam FY11 net profit surges 50%

The state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion net profit last year, a 50% jump from 2010's figure of Rp2 trillion.
Bukit Asam's revenue is calculated to reach Rp11 trillion, a 39.24% jump from 2010's position at Rp7.9 trillion.
President Director Milawarma, as quoted by Kontan daily, said the steep increase last year was underpinned by higher coal sales volume and sales price. Bukit Asam sold 12.09 million tons last year, a 4.6% increase from a year earlier.
Bukit Asam targets to sell 18.6 million tons of coal this year. "We estimate the sales price to rise by 5%-10% this year." The company will boost its production to 16.3 million tons this year, a 34.82% increase from last year.

Disclosure: No position at the stock mentioned above. 

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