New contracts boost Mitrabahana?s 9M2011 revenues

Transportation and logistic services provider PT Mitrabahtera Segara Sejati Tbk (MBSS), a unit of energy titan PT Indika Energy Tbk, as of September recorded a 33% increase in revenues compared to its last year's performance, thanks to a series of newly secured contracts in the period.

After bagging two new contracts in the first half of the year for 3.4 million tonnes/year of coal barge-transporting, in the third quarter MBSS signed another 18-months contract for 3.5 million tonnes/year of coal floating-crane-transhipment.

The new agreements in the year?s first nine months helped propel the company?s revenues to IDR737 billion, a 33.3% increase from a year earlier.

?Our clients? trust can be seen in our business growth and the number of new contracts we managed to secure throughout the first nine months of 2011,? said President Director Patricia Prasatya.

Net profit rose to IDR186 billion from IDR158 billion in the same period last year. As of September, the company boasted a fleet of 66 vessels, rising from 47 at the beginning of the year. (giok)