Rimau reports net profit drop on coal downturn
Saturday, December 19 2015 - 04:46 AM WIB
IDX-listed PT Rimau Multi Putra Pratama Tbk, which is primarily engaged in coal trading and transportation, reported net profit in the first nine months of this year dropped to Rp 2.9 billion from Rp 7.8 billion in the corresponding period of last year.
The company said in a presentation material obtained Friday that revenue in the January-September 2015 period fell to Rp 70.2 billion from Rp 81.5 billion.
Of the total revenue, Rp 58 billion was contributed by the coal trading business, and Rp 12.1 billion by the coal transportation business.
Rimau has two subsidiaries engaged in coal trading and mining products transportation namely PT Multi Mekar Lestari and PT Rimau Shipping.
The company said it is also considering to enter power plant business and manufacturing sector.
Editing by Reiner Simanjuntak