Indonesia's Bumi H1 says net profit down 58 pct

JAKARTA, Aug 22 (Reuters) - Indonesia's largest coal producer, PT Bumi Resources Tbk (BUMI.JK: Quote, Profile, Research, Stock Buzz), reported a 58 percent slide in its first-half net profit, due to the absence of one-off gain from the sale of stake in its coal unit made last year.

The company, controlled by the family of Indonesia's chief social welfare minister Aburizal Bakrie, said its net profit dropped to $301.8 million in January-June period from 720.3 million a year ago.

The second largest firm in Indonesia stock exchange by market capitalisation said its sales revenue climbed 29.6 percent to $1.49 billion.

The results were largely in line with the company's preliminary results announced earlier.

Last year Bumi reported $547.2 million gain on sale of investment in subsidiary's share, after selling 30 percent stake in its coal units to India's Tata Power (TTPW.BO: Quote, Profile, Research, Stock Buzz).

Bumi had said its coal output in the first half rose 5.1 percent to 25.7 million tonnes, but uts sales were down by 10.4 percent to 25.4 million tonnes, resulting a 36 percent rise in its inventory. (Reporting by Harry Suhartono; Editing by Louise Heavens)