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Indonesia's Adaro says H1 coal output up 7.4 pct y/y

Tue Jul 15, 2008 9:29pm EDT

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JAKARTA, July 16 (Reuters) - Indonesia's second-largest coal miner, PT Adaro Energy Tbk (ADRO.JK), said on Wednesday its production in the first half rose by 7.4 percent to 18.26 million tonnes, while revenue rose around 11 percent.

Adaro Energy, which will debut later on Wednesday after raising $1.3 billion in an initial public offering, saw revenue jump to $725 million in the January-June period from around $650 million, company director Andre Mamuaya told Reuters.

The company has said it expected 2008 net profit to rise sharply to 1.55 trillion rupiah ($169.7 million) from 133 billion rupiah last year, on strong coal prices and steady demand. For 2009, the company expected net profit of 4.8 trillion rupiah.

Adaro booked sales of 11.6 trillion rupiah last year, but revenue could jump to 16.02 trillion rupiah this year and 24.3 trillion rupiah in 2009. ($1=9,135 rupiah) (Reporting by Harry Suhartono, editing by Ed Davies)



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