Medco?s H1 net profit rises 14.1 percent

Publicly listed Indonesian energy firm PT Medco Energi International booked a consolidated net profit of US$25.59 million in the first half of the year, up by 145.1 percent from $25.93 million in the corresponding period of last year.

 

Sales rose to $403.36 million in the first half of the year from $397.54 million in the corresponding period of last year, the company said in a balance sheet published in Bisnis on Wednesday.

 

Oil and gas contributed $273.98 million to the consolidated sales in six months until June 30, 2007, compared to $266.69 million in the corresponding period of last year, while sales from drilling operation and related service reached $67.81 million, up from $58.89 million.

 

Its power unit booked sales of $23.38 million in the first half of the year, up from $18.41 million in the corresponding period of last year.

 

Aside from oil and gas business, the firm is also engaged in drilling service, power generation and chemicals production. The drilling service is provided by publicly listed PT Apexindo Pratama Duta. (Bodega)