Bloomberg Indo Tambangraya Expects Sales to Climb 17% on Higher Output

April 17 (Bloomberg) -- PT Indo Tambangraya Megah, an Indonesian coal producer, expects sales to climb by as much as 17 percent by value this year as production increases.

Sales may rise to between $1.33 billion and $1.54 billion from $1.32 billion in 2008, Finance Director Edward Manurung said at a press briefing in Jakarta. Output may expand to 20.5 million metric tons from 17.8 million tons last year, President
Somyot Ruchirawat told reporters.

Indo Tambangraya, a unit of Thailand’s Banpu Pcl., posted a fourfold increase in profit to $234.9 million in 2008 after selling more fuel at higher prices and benefiting from gains on derivative transactions.

The Jakarta-based mining company plans to set aside $126 million for capital spending this year, Somyot said. Most of that will be used for port and fleet expansion, he said.

For Related News and Information:
Indo Tambangraya’s financial analysis:
ITMG IJ FA
Stock index one-year price graph: JCI GP

--Editor: Ryan Woo.