Bumi 2010 Profit Climbs to $311 Million, Beating Estimates
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PT Bumi Resources, Indonesia’s largest coal producer by volume, said net income jumped 63 percent last year, beating analyst estimates, as prices of the fuel increased.
Profit climbed to $311 million from $191 million, the Jakarta-based company said in a statement published today in Suara Pembaruan newspaper. Revenue rose to $4.4 billion from $3.7 billion. That compares with a mean estimate of $276 million in profit and $4.1 billion in revenue from a Bloomberg News survey of 17 analysts.