Thai Banpu Q1 coal sales jump
12-MAY-2008 Intellasia | Reuters
May 12, 2008 - 7:00:00 AM
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Banpu PCL BANP.BK, Thailand's largest coal miner, said on Friday its coal reserves rose to 334.02 million tonnes at the end of March from 309 million a year earlier, but were down from 339.45 million at the end of December
Banpu told the stock exchange it sold 5.44 million tonnes during the first three months, up 25% from a year earlier, with almost half, or 2.66 million tonnes from Indominco mine in Indonesia.
Sales from its Indonesian mines accounted for 78.5% of coal sales volume in the first quarter, it said.
Banpu said its net profit for the January-March quarter surged 74% to 2.07 billion baht, topping an average net profit forecast of 1.87 billion baht polled by Reuters.
Banpu shares were up 1.8% at 460 baht on Friday when the main Thai stock index .SETI was 0.41% lower.
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