Berau Coal’s Net Income Surges 270.43 Percent

PT Berau Coal Tbk (BRAU) has booked net income US$ 90.31 million in the first half 2011, jumps very high 270.43 percent from the same period last year US$ 24.38 million, according financial report publication of the company, today.

            The net income also contributed by foreign exchange gain US$ 4.89 million this year from the last year loss US$ 424.51 thousand. The company also booked net revenue US$ 247.29 million in 1H2011 from the previous last year US$ 119.9 million. Meanwhile, operational cost up to US$ 50.6 million from US$ 36.23 million.

Berau sales was US$ 729.06 million in the first half 2011 from the same period last year US$ 467.64 million. According Bumi Plc announcement, Berau despite high levels of rainfall, has produced 9.0 million tonnes of coal, a 41 percent increase over the prior period, and recorded sales of 9.6 million tonnes of coal.

Berau average selling price for the period was US$ 75/tonne and production cost was US$ 35/tonne. The average stripping ratio for the period was 9.5.

In term of sales by destination, 36 percent of sales went to China, 16 percent to Taiwan, 11 percent to India, and 21 percent to the rest of Asia, with the remaining 16 percent sold domestically into Indonesia. Berau first half sales were split 77 percent contracted priced, 20 percent contracted index-linked, and 3 percent contracted unpriced.