MBSS books 28% revenue growth in H1 2012

IDX-listed barging and transshipment company, PT Mitra Bahtera Segara Sejati Tbk, (MBSS) reported it booked a 28 percent revenue growth, reaching US$ 68.09 million in the first half year of 2012 compared to US$ 53.27 million revenue in the same period in 2011.

Rico Rustombi, President Director of MBSS said that in the first semester the company secured new contract for transshipment services and one new contract for barging services as well as additional volume on an existing contract.

"At the end of the first semester we still have a significant contract back-log to be realized, as much as US$ 410 million of which US$ 271.9 million for barging and US$ 138.1 million for floating crane," Rico said in a press statement.

The company booked barging revenue of about US$ 52.46 million reflecting 77 percent of the total company's revenue in the first semester, while transshipment contributed US$ 15.63 million.

It said that barging volume reached 14,16 million in the first half of 2012 compared to 10,36 million ton in the same period of 2011 thanks to the growth of the fleet from 58 units in the first semester of 2011 to 72 units in the first semester of 2012.

Editing by Adianto P. Simamora