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Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST


Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, helped by better average sale prices.

Banpu, also the fourth-largest coal miner in Indonesia, posted a net profit of 3.81 billion baht ($114.4 million), or 14.02 baht per share, compared with 3.11 billion baht a year earlier.

Profit was down from 3.98 billion baht in the previous quarter.

Ten analysts polled by Reuters had forecast a net profit of 3.18 billion baht for the July-September quarter.

Analysts said lower coal prices would hold down its net profit in the fourth quarter, but a recovery in demand in tandem with the global economy could drive prices up in 2010.

Banpu stock gained about 28 percent in the July-September period, outperforming a 20 percent climb on the broader market .SETI. Banpu closed down 0.4 percent on Tuesday ahead of the earnings announcement. ($1=33.31 Baht)
Source: Reuters



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Recent News

Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...


Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...


Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...


Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...


Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...


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