Pama Persada books flat revenue in 2003
Saturday, February 7 2004 - 12:20 AM WIB
Indonesia?s leading mining contractor PT. Pama Persada Nusantara had produced 27.7 million tons of coal and removed 140.6 million bcm of overburden in 2003, down from 29 million tons of coal and 140.8 million bcm of over burden removal in the previous year, parent company PT. United Tractors Tbk. (UNTR) said.
The company said despite flat revenue of Rp 3 trillion (US$=Rp 8,400) in 2003, the company booked unaudited gross profit margin of 16.6 percent in 2003 versus 16.2 percent in 2002 thanks to efficiency measures to lower production cost.
UNTR said in its report to The Jakarta Stock Exchange that Pama is expected to increase production in 2004 as it expected full operation at East Kalimantan coal miner PT. Kideco Jaya Agung and South Kalimantan coal miner PT.Dasa Jasa Ekatama would commence this year.(alex)