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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011


The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 2011, as quoted by Insider Stories.

Insider Stories further said, the company's net profit has reached to Rp 760.92 billion (approximately US$ 88.764 Million) or Rp 330 (US$ 0.038)per share in 1Q 2011 compared to Rp 365.70 billion (approximately US$ 42.711 million) or Rp162 (US$ 0.0189) per share in 1Q 2010.

Bukit Asam’s operating profit has increased to  Rp 944.64 billion (approximately US$ 110.329 million) or surging of 123 percent  from Rp 422.92 billion (approximately US$ 49.395 million). 

Gross profit increased 75.94 percent to Rp1.24 trillion (approximately US$ 144.825 million) from Rp 706.75 billion (approximately US$ 82.544 million). The company has  posted Rp 2.32 trillion (approximately US$ 270.964 million)  in sales, a 30 percent up from Rp1.78 trillion (approximately US$ 270.964 million) because of the higher selling price of coal both in the local and export markets, as quoted by Insider Stories.

Bukit Asam's average selling price (ASP) increased 35 percent  to Rp 751,457 (approximately US$ 87.76) per ton compared to the same period a year earlier.

Coal output
The miner has produced 3 million tons a 16 percent  increase, while coal sales have decreased 4 percent to 3.1 million tons as sales volume fell. 

The company expects to increase coal sales to 16.8 million tons in 2011. Bukit Asam also plans to boost coal output at its IPC mine in East Kalimantan.



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