Timah?s net profit jumps by 47.86%

By Maryati Dimursi

IDX-listed tin giant PT Timah Tbk said that net profit in the first semester of this year jumped by 47.86 percent to Rp 202.75 billion on higher revenue compared to Rp 137.12 billion in the same period of last year.

The company said a statement Wednesday that consolidated revenue in the January-June period of this year rose by 7.69 percent to Rp 2.75 trillion from Rp 2.55 trillion in the same six-month period of last year.

It said that tighter export requirement, which has help curbed illegal shipment, contributed to increasing tin price in the global market, which bodes well for the firm?s revenue performance.

Elsewhere, Timah said that tin ores production during the first semester of this year increased by 40.89 percent to 14,352 tons compared to 10,187 tons in the same period of last year.

Meanwhile, tin metal output during the first semester of this year increased by 12.42 percent to 10,808 tons from 9.613 tons in the January-June period of 2013.

Editing by Reiner Simanjuntak