Banpu earnings in 2002 doubled

Banpu earnings in 2002 doubled

BANGKOK: Banpu PCL., a Thai coal miner and power producer,
said on Friday net profit for last year almost doubled, helped by
higher sales from its Indonesian coal mines.

Banpu posted a net profit of 1.45 billion baht, or 6.82 baht
per share for last year, compared with 783.9 million baht, or
3.73 baht per share a year earlier.

The figure is higher than the 1.28 billion baht consensus
estimate from Multex.

Banpu's sales in the period totaled 10.91 billion baht,
doubling from 5.42 billion baht a year earlier, due to
consolidated sales from Indonesian coal mines, which started
contributing to Banpu in March. The company also recorded a
foreign exchange gain around 616.3 million baht, up from 30.9
million baht a year ago. -- Dow Jones