Tanah Laut reports jump in revenue on coal transloading
Tuesday, October 28 2014 - 02:05 AM WIB
IDX-listed marine port services company PT Tanah Laut Tbk said on Monday that revenue in the third quarter of this year increased by 38.57 percent to Rp 127.17 billion compared to the same period of last year on higher coal transloading volume.
The company said in a filing with the Indonesia Stock Exchange that gross margin during the July-September period increased by 17.45 percent to 31.47 percent compared to the corresponding period of last year, while net profit jumped by 563.43 percent to Rp 35.72 billion as the had repaid the entire loan used to acquire the Parameswara transloader barge.
The third quarter revenue was largely contributed by income from the operation of the Parameswara coal transloader barge by subsidiary PT Pelayaran INDX Lines.
The company said that the current downturn in the coal mining industry has not much affected the company as it services have been mostly based on contracts, not spot-basis.
Tanah Laut said that its subsidiaries currently provides coal transloading services using floating crane and barge from the coal terminal of IDX-listed coal giant PT Bukit Asam Tbk to the company?s loading Achorage Port in Tarahan, Lampung.
Editing by Reiner Simanjuntak