Pamapersada reports higher coal, overburden production in Q1

Publicly listed heavy equipment supplier PT United Tractors Tbk said Friday its wholly-owned subsidiary mining contractor PT Pamapersada Nusantara produced more coal in the first quarter of the year, compared to the same period of last year.

UT said Pama recorded a 16 percent increase in coal production in the first quarter of the year, from 8 million to 9.2 million ton of coal in the year-ago period, and 41 percent increase in overburden removal, from 56.5 million to 79.6 million bcm.

UT said Pama?s revenue increased as much as 62 percent, from Rp 1.12 trillion to Rp 1.81 trillion with coal mining projects of Adaro Indonesia and Indominco Mandiri as the largest contributors to the revenue.

Despite the increasing costs for, among others fuel, tyre and depreciation, the increased revenue combined with efforts of efficiency applied across the contracting projects has resulted in better gross profit margin as compared to last year, from 12.9 percent to 15.0 percent, as well as an increase in operating profit margin from 10.6 percent to 13.4 percent, UT said. (Robert)