Indonesia's Bumi Resources 2007 net profit soars

JAKARTA, April 1 (Reuters) - Indonesia's largest coal miner, PT Bumi Resources Tbk, reported a 2007 net profit that was 3.5 times bigger than the previous year thanks to high coal prices and gains from the sale of a stake in its mines, but it was lower than forecast.

Bumi (BUMI.JK), controlled by the family of Indonesia's chief social welfare minister Aburizal Bakrie, posted a 2007 net profit of $789 million on Tuesday, up from $222.3 million in 2006.

However, it was below a Reuters Estimates forecast of around $824 million.

Last year, Bumi sold 30 percent stakes in two of its coal mines, PT Kaltim Prima Coal and PT Arutmin Indonesia, to India's Tata Power Co (TTPW.BO) for $1.3 billion. (Reporting by Harry Suhartono, editing by Alan Raybould)