Indika 2010 net profit slightly higher
Kideco produces 29Mt in 2010
Thursday, March 31 2011 - 02:04 AM WIB
The company said that its total revenue reached Rp 3.76 trillion in 2010, up from Rp 2.49 trillion in 2009. The rise in revenue was mainly contributed by contracting and service sectors, in which the firm recorded an increase in revenue to Rp 3.51 trillion from Rp 2.2 trillion.
The rise in total revenue came despite a decrease in coal sales from Rp 316.37 billion to Rp 258.54 billion.
The company has a 46 percent stake in East Kalimantan-based coal miner PT Kideco Jaya Agung and through its wholly-owned subsidiary PT Petrosea Tbk?s coal unit of PT Santan Batubara.
On March 18, Kideco held the annual general shareholders' meeting, during which it announced a net profit of US$316.3 million and net revenue of $1.6 billion in 2010.
During the meeting, Kideco also announced a final dividend payment of $245 million. Together with the $70 million interim dividends paid in November 2010, Kideco?s 2010 dividend payment would total is $315 million.
?We are pleased with Kideco?s good performance in 2010 with production target of 29 million tonnes achieved under challenging weather conditions? said Paulus Lucas, director of Kideco has said.
Indika Energy has three principal businesses pillars. They are: PT Kideco Jaya Agung and PT Santan Batubara in energy resources; PT Petrosea Tbk, and PT Tripatra Engineers & Constructors and PT Tripatra Engineering in energy services; and PT Cirebon Electric Power (CEP) in energy infrastructure. (denny)