JAKARTA: Erratic weather, close to La Nina, in the third and fourth quarter last year and continue to the first quarter this year did not harm performance of several companies in 2010.This condition also reflected on sectoral performance on yesterdays closing. Index was closed at 3,442.50 or up 33.33 points (0.98%) to which mining contributed as much as 58.48%.Mining companies like PT Adaro Energy Tbk and PT Aneka Tambang, which released their performance reports yesterday, experienced rising share prices. Adaro rose 6.7% to IDR2,400 while Antam rose 4.6% to IDR2,275.Adaro Energy Corporate Secretary Devindra Ratzarwin said the companyy successfully booked coal production in 2010 for about 41.2 million tons, 4% higher than 40.59 million tons in 2009.However, the production did not meet the target set of 45 million tons or only 94%. Coal production was advancing up to 4% to 42.2 million tons after all, even though we experienced high rainfall in the third and fourth quarter last year, as he said yesterday.Adaro, he continued, also booked a raising sale of 6% to 43.84 million tons than 41.40 million tons in 2009.With such achievement, Adaro management has set a production target around 46 million-48 million tons, including the production of Envorcoal Wara in the amount of 4 million-5 million tons. Production demand is quite high particularly from China, India, South Korea and Indonesia.Antam's revenueOn separate occasion, Antam Corporate Secretary Bimo Budi Satriyo announced that it successfully gained IDR8.72 trillion revenues in 2010, not much different from IDR 8.71 trillion in 2009. The increase in price and company's performance last quarter managed to offset the revenue decline in the three previous quarters.Up to Q3/2010, he detailed, Antam revenue slipped 8.6% to IDR5.72 trilion from IDR6.26 trillion in the same period in 2009. The state-owned mining company booked IDR2.99 trillion in Q4/2010 or up 22% compared to 2009.The increase was due to larger ferronickel and nickel ore sales and higher sales prices.PT Universal Broker Head of Research Satrio Utomo estimated the hiking stock price of both companies was a reflection of the advancing commodity prices.Not only Adaro, other coal companies also increase. (T05/NOM)
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