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Monday, 31 August 09
INDONESIA ADARO'S NET PROFIT SOARS 1,506 PERCENT ON HIGH PRICES


The Jakarta Post reported that, the country's second largest coal producer, PT Adaro Energy said Sunday that its first-half net profit soared 1,506 percent on the back of higher prices.

The company booked a net profit of Rp 2.249 trillion (around US$222 million) in the first half of this year as compared with only Rp 140 billion in the same period a year earlier.

The company said in a statement issued Sunday that the significant rise was because the company had managed to secure higher prices in coal contracts.

The higher prices offset the 11 percent drop in sales volume. During the period, the company's sales volume reached 17.8 million tons, less than the 20.1 million tons it booked a year earlier.
Source: The Jakarta Post



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