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Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia's largest coal producer by market value PT Adaro Energy Tbk posted a 131.6 percent increase in its third quarter net profit, based on Reuters calculations, amid increasing coal demand for both exports and domestic use.
Adaro, which has a market capitalisation of $5.14 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and Indonesian state electricity firm Perusahaan Listrik Negara (PLN). Exports account for more than 70 percent of its sales. The firm had said that the demand for its coal strengthened at the end of June and expected the trend to continue until the end of the year with increasing sales to Asian customers.
Adaro posted a 58.9 percent increase of coal exports and 55.7 percent increase of domestic coal sales in the July-September period. Its net profit grew 131.6 percent to 1.27 trillion rupiah from 546.5 billion rupiah a year ago, while the revenue jumped 56.8 percent to 7.12 trillion rupiah.
The figures were based on Reuters calculations from the nine-months and first-half earnings published by the company. Adaro aims to produce 42-45 million tonnes of coal this year, up from 38.5 million tonnes in 2008, and to raise production to 80 million tonnes per year in the next five years. With higher sales volume, Adaro has forecast double-digit growth in revenue and net profit this year. Shares in Adaro closed at 1,540 rupiah on Friday.($1 = 9,540 rupiah)
Source: Reuters
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Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
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