Antam books 24% increase in H1 net profit
Wednesday, August 30 2006 - 12:54 AM WIB
State nickel miner PT. Aneka Tambang Tbk. (Antam) booked half yearly unaudited net profit of Rp.515 billion (US$=Rp.9,100), or Rp.270.06 per share, the company said in an announcement released Wednesday. The result is 24 percent increase compared to same period last year.
The company?s net sales increased 61 percent to Rp.2.104 trillion, largely due to increased ferronickel sales and higher selling prices for all of Antam?s products.Nickel sales contributed to 93 percent of Antam?s sales.
Ferronickel sales increased by 175 percent to 6,329 tonnes, followed by 10 percent higher selling price of US$7.54 per pound. Ferronickel sales rose 241 percent to Rp.967 billion, or 46 percent of total sales.
Cost of sales increased 71 percent during the first half of 2006 to Rp.1.129 billion, largely attributed to increased production of ferronickel and nickel ore, together with increasing prices for material and mining services.(alex)