Indo Tambang 1Q sales revenue rises 13% on higher selling price

Bisnis.com,15 Mei 2011, 23:54 WIB

JAKARTA: Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) for the first quarter of this year as average selling price increase 13% to US$78.17 per ton in 1Q 2011. Banpu's Indonesian operating unit recorded 14.56 billion bath or IDR4.13 trillion sales revenue in 1Q 2011 from 13.58 billion bath or IDR3.83 trillion in 1Q 2010.Indo Tambang for the full year of 2010 posted IDR14.36 trillion in net sales, a 10.55% from IDR12.99 trillion a year earlier. However, both coal sales and production droped 12.29% and 13.02% respectively. Coal sales from Indonesian unit fell to 5.35 million tons from 6.10 million tons. Coal output also dropped to 5.21 million tons from 5.99 million tons. Gross profit increased 10.92% to IDR1.93 trillion from IDR1.74 trillion. Indo Tambang is a 65% owned subsidiary by Thai Banpu Plc via Banpu Minerals (Singapore) Pte Ltd and public shareholders own 34.99%. At end of last week, Indo Tambang slumped 1.39% to IDR45,900 per share, representing a IDR51.92 trillion market capitalization. (wiw)

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