Komatsu sales volume in Aug ’10 increased by 49.0%YoY from Aug ’10.This slower growth dragged down YoY growth from 87.1%in 7M10 to 81.4%in 8M10.8M10 komatsu sales volume of 3,653 units represented 73.4%of our FY10F of 4,978 units.This is still within our expectation due to we expect slower YoY growth up to end of year.
Overburden removal and coal production in Aug ’10 also recorded slower growth.8M10 Overburden removal represented 79.8%of our FY10F estimate,meanwhile 8M10 coal production represented 71.3%of our FY10F estimate. These are still within our expectation as we expect slower YoY growth in overburden removal and coal production up to end of year due to mining activities usually slower in 4Q.
Currently,UNTR is trading at PER10F and PER11F of 15.5x and 14.6x,respectively.
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