Monday, August 1, 2011

PT Adaro Energy Tbk - Sales Grow 10%

Sales of coal producer PT Adaro Energy Tbk grow 10% to 24.02 million tons in the first half of this year, compared with the achievements in the same period of 2010 amounted to 21.75 million tons. The Company remains optimistic target of coal production this year by 46 million tonnes, 48 million tonnes could be achieved, following the first half of 2011 production growth rate of 5% to 22.81 million tonnes.

Head of Investor Relations Cameron Tough said sales Adaro coal II/2011 quarter was a record high in terms of production per three months, amounting to 13.11 million tons, up 27% from the quarter II/2010 which reached 10.29 million tons.

"Demand for mining blocks Wara continued to strengthen from a number of countries such as India, China, South Korea and Indonesia, plus a new contract with Thailand in the second quarter of 2011," he said in an official statement, this afternoon.

If calculated on a quarterly basis, sales grew quarter II/2011 20% compared with sales in the quarter I/2011 amounting from 10.91 million tonnes.

The production also grew by 15% on a quarterly basis to 12.21 million tonnes. This figure includes the production of Wara block of 1.3 million tonnes and by 0.3 million tons Paringin.

The sales figures also include 13.11 million tons of coal a third-party products that sales by Adaro through Coaltrade Services International Pte Ltd and Wara respectively 0.96 million tons and 1.3 million tons.

If the total, Adaro's production in six months this year reached 22.81 million tons, up 5%, while sales reached 24.02 million tons, or grew 10%.

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