Antam?s Q4 profit falls
Tuesday, April 9 2002 - 11:07 PM WIB
PT Aneka Tambang's fourth- quarter profit fell 41 percent as higher production costs offset a jump in the Indonesian gold and nickel miner's sales.
Profit fell to 47.2 billion rupiah ($4.9 million) in the three months ended December, from 80 billion rupiah in the same period a year earlier. The figure was derived by subtracting nine-month results from the full-year earnings announced today.
Fourth quarter sales jumped 9.2 percent to 512 billion rupiah, helped by a weaker rupiah and a surge in domestic gold demand, the company said in a quarterly report published in February.
In the quarter, the average value of the rupiah fell 9.6 percent to 10,341 to the U.S. dollar, from 9,434 in the fourth- quarter of 2000, the report said. Domestic gold sales rose 23 times to 96.9 billion rupiah as the government exempted the metal from value added tax. (*)