Indonesia Bumi Q1 Net Profit up 16.5% on Higher Coal Price

Reuters Africa reported that profits for Bumi Resources (JAK:BUMI) were up in first quarter 2011 due to higher coal prices.

The market news is quoted as saying:

Strong demand from Asian economies including India, Japan and China has lifted the price Bumi gets for its coal for power stations, but production fell in the first quarter due to heavy rainfall near its main mines in Kalimantan.

To read the full market news, click here.