IBT records throughput increase
Wednesday, October 9 2002 - 05:59 AM WIB
ASX listed investment firm Washington H Soul Pattinson and Company Limited reported on Wednesday that its indirect associate company coal terminal firm PT. Indonesia Bulk Terminal (IBT) increased its throughput during the year ended July 31, 2002 to 7.1 million tonnes, from 5.2 million tonnes last year.
The company also said profit after tax for the year was A$14.9 million, a 162.0 percent increase over the previous corresponding period.
?Improved cash flows as a result of higher throughput has enabled IBT to substantially reduce debt from US$100 million at the beginning of 1999 to US$65 million. Debt will be further reduced with US$13 million budgeted for debt retirement by July, 2003,? said Washington in a report to ASX.
IBT operates deep-sea coal terminal in Pulau Laut, South Kalimantan and is an exporting terminal for some Kalimantan based coal-mining firms such as Adaro Indonesia and Arutmin Indonesia. (alex)