The company revealed that its net profits slumped by around 31% to $172 million annually, despite a 6.9% increase in its revenue to around $1.69 billion in the first six months of 2013. Indonesia’s coal reference price (HBA) was set at $73.64 per metric ton (mt) in June, which was 11.22% lower than the $81.9/mt set for January this year. Last year, coal prices sagged by 8.26% from January to June. Adaro sold 28.25 million tons of coal in the first half of the year, rising about 14% compared with 25 million tons in the same period last year.
