Bumi Q3 profit jumps by 76%<\/p>\n
JAKARTA: Mining company PT Bumi Resources' net profit surged by
\n76 percent to Rp 64.8 billion (US$7.6 million) in the first nine-
\nmonths of this year from Rp 36.7 billion in the same period last
\nyear on higher sales.<\/p>\n
In a report to the Jakarta Stock Exchange on Tuesday, the
\ncompany said that its sales during the nine-month period
\nincreased to Rp 1.99 trillion from Rp 1.83 trillion.<\/p>\n
But the company's cost of sales also increased to Rp 1.55
\ntrillion from Rp 1.17 trillion, cutting back its profit.<\/p>\n
Bumi, a relatively small mining company, made headlines in
\nlocal media about four months ago after acquiring the entire
\nstakes in giant coal mining company PT Kaltim Prima Coal (KPC) of
\nAnglo-Australian mining giant Rio Tinto and Anglo-American energy
\ngiant BP PLC for US$500 million.<\/p>\n
The purchase surprised many in the country, including top
\nofficials in the central government and East Kalimantan
\nadministration. -- JP<\/p>",
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