ABM Investama?s profit surges 226 percent

PT ABM Investama Tbk (ABM), an intergrated coal mining company listed on the Indonesian Stock Exchange (IDX), booked Rp 415.7 billion in net profit last year, a 226 percent increase from Rp 127.3 billion in 2010 thanks partly to significant increase in total revenues and improvement in the profit margin.

ABM, which also provideds mining construction and electricity services, booked total sales of Rp 6.63 trillion in 2011, a 47.7 percent increase from Rp 4.49 trillion in the prior year. The company also managed to significantly increase its profit margin to 6.27 percent in 2011 from 2.84 in the prior year.

ABM's President Director Andi Djajanegara said the mining company was able to book sharp gain in profits as results of the diversification of its mining operations. In 2011, the company?s mining construction services contributed Rp 2.95 trillion, or about 44 percent to the total revenues.

This year, ABM would add more investment in mining operations, mining services and infrastructure development in order to further increase future revenues. The company expects coal production would increase by 152 percent to 5.5 million tons this year from 2.18 million tons in 2011. ?Revenues from mining construction service are expected to increase by between 20 and 25 percent,? Andi said.(*)