Bloomberg News

Indonesia Stock Movers: Adaro Energy, Berau Coal Energy

March 27, 2012

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses, and prices are as of 10:20 a.m. in Jakarta.

The Jakarta Composite Index (JCI) fell 0.3 percent to 4,067.41. The gauge has risen 6.4 percent this quarter.

PT Adaro Energy (ADRO) , Indonesia’s second-largest coal producer, rose 1.1 percent to 1,910 rupiah after reporting its 2011 net income more than doubled to $550 million, from $247 million a year earlier, beating the mean estimate of $506.5 million in a Bloomberg News survey of 29 analysts.

PT Berau Coal Energy (BRAU) , a coal producer, jumped 7.8 percent to 550 rupiah, the biggest gainer among stocks on the Jakarta Mining Index, poised for the highest close since Aug. 18. The company’s 2011 net income surged to $133.9 million from $49.7 million a year earlier, it said in a statement yesterday.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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