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PT Bukit Asam Targets 39% Sales Hike

Jakarta (ANTARA News) – Publicly listed coal-mining company PT Bukit Asam Tbk. (PTBA) anticipates its coal sales to increase by 39 percent to 24.7 million tons this year from 17.8 million tons in the year before.

In a press statement received here on Thursday, the companys secretary, Joko Pramono, stated that 55 percent of the target or 13.53 million tons of the sales is set for export markets.

“The rest, totaling 11.19 tons, is set to meet domestic demand, which is 37 percent higher than the realization in 2013 at 8.17 million tons,” he added.

He noted that the production target for the year meanwhile was set at 19.8 million tons, up 31 percent from the realization in the year before.

The target of coal purchases from third parties is set at 3.98 million tons, he added.

“Purchase from third parties is up 46 percent compared to the realization in 2013,” he pointed out.

Regarding the companys financial performance in 2013, he noted that the companys net profit was down Rp1.83 trillion or around 37.03 percent from Rp2.90 tri1lion in the previous year.

The drop in the net profit in 2013 was due to pressure on sales, which declined to Rp11.21 trillion from Rp11.59 trillion in 2012.

PT Bukit Asams total assets in 2013 dropped to Rp11.67 trillion from Rp12.73 trillion.

The performance of the company which tended to decline has contributed to give pressure on the net profit per share to make it down 34.96 percent to Rp822 compared to Rp1,262 per share in the year before.

Source : www.antaranews.com, Thursday, February 27 2014