PGN reports 7% increase in 9-month net profit
Friday, October 29 2010 - 02:29 AM WIB
IDX-listed state gas distribution firm PT PGN (Persero) reported on Thursday that its nine-month 2010 net profit rose by 7% to Rp.4.7 trillion (US$=Rp.8.950) from Rp.4.4 trillion the same period of last year.
The company recorded that its revenue increase to Rp.14.6 trillion during the period compared to Rp.13.5 trillion a year ago.
PGN operates a gas pipeline transmission network from Sumatra to West Java as well as from Sumatra to Batam. The company?s Grissik-Duri pipeline segment leaked last month, causing temporary halt of gas supply from ConocoPhillip?s Corridor block to Chevron?s Duri streamflood facility. The company is also planning to develop two LNG terminals in Jakarta and North Sumatra with operations expected to start in 2012. (alex)