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Thai Banpu posts Q4 net profit of 3.53 bln baht

Friday, 24 February 2012 | 00:00
Banpu Pcl, Thailand's top coal miner, on Thursday reported a net profit of 3.53 billion baht ($115.30 million) for the fourth quarter of 2011 , with core earnings boosted by higher selling prices from its Indonesian unit.
The result was in line with the average forecast of 3.5 billion baht from five analysts polled by Reuters.
For 2011, the miner posted a net profit of 20.06 billion baht, down from 24.7 billion in 2010 and in line with an average forecast of 20 billion.
Analysts have positive views on Banpu's performance this year after a restructuring at Australia's Centennial Coal, which was acquired in late 2010. Centennial is seen as a key growth driver in the next three years.
Shares in Banpu, valued $6 billion, have risen 24 percent so far this year, outperforming a 11 percent gain of the broad index.
Source: Reuters
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