Mining contractor Pamapersada books increased revenue on higher production

Indonesian top mining contractor PT Pamapersada Nusantara recorded revenue of Rp 2.92 trillion in the first nine months of 2004 or 26.9 percent higher than Rp 2.30 trillion revenue in the same period last year, due to increased volume of overburden removal.

As of September 2004, Pama had produced 19.6 million tons of coal and 127.9 million bcm (bank cubic meters) overburden, as compared to 18.3 million tons of coal and 91.1 million bcm overburden last year, parent company PT United Tractors Tbk said in quarterly report.

About 96 percent of Pama?s total revenue was contributed by coal production.

During this first nine months, Pama recorded higher gross profit and operating profit margins of 18.9 percent and 16.2 percent, respectively, as compared to 16.4 percent and 13.8 percent for the same period in 2003, due to increased production and American dollar strengthening.

Pama's clients are including PT Adaro Indonesia, PT Indominco Mandiri, PT Tambang Batubara Bukit Asam, PT. Multi Harapan Utama, and PT Dasa Eka Jasatama, PT. Kideco Jaya Agung. (Robert)