DJ Bumi Resources 2007 Net Pft $789.00 Mln Vs $222.30 Mln JAKARTA (Dow Jones)--
PT Bumi Resources (BUMI.JK) Tuesday said that its audited net profit surged to $789.00 million in 2007 from $222.30 million a year before. Indonesia's largest coal producer said that its sales rose to $2.27 billion in 2007 from $1.85 billion in 2006, resulting in a 42% increase in gross profit to $754.24 million. Helping jack up net profit was $471.61 million in one-time gains the company booked in 2007. The company didn't elaborate, but the gain was likely derived from the sales of 30% stakes in two coal mines to India's Tata Power. Like most coal miners, Bumi is benefitting from the surge in thermal coal prices globally.
