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