Feb 21, 2012

Bukit Asam eyes 42% rise in revenue

The state-controlled coal miner PT Bukit Asam Tbk (PTBA) is scouting a 42.85% increase in revenue target this year to Rp15 trillion from Rp10.5 trillion last year.
Bukit Asam President Director Milawarma said the increase of revenue target will be driven by coal sales rising to 18.6 million tons, a 36.76% increase from 13.6 million tons last year.
"Revenue last year may see Rp10.5 trillion, a steep increase from Rp7.9 trillion in 2010," he said yesterday. 
According to him, Bukit Asam's net profit last year rose at least 20% to Rp3.6 trillion from a target. The company plans to spend Rp1.4 trillion capital expenditure (capex) to develop a 12 million tons capacity jetty in Lampung to 25 million tons a year.

Disclosure: No position at the stock mentioned above.

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