Timah?s Q1 net profit rises to Rp27.1 billion
Friday, May 2 2003 - 06:09 AM WIB
Publicly listed PT Timah Tbk, the world?s largest integrated tin miner, reported this year?s first quarter net profit (unaudit) of Rp27.1 billion (US$=Rp8,650), well above Rp1.1 billion from the same period of last year.
The rising net profit was due to a rise in tin prices on the world market and the implementation of efficiency programs, Timah said recently in its quarterly report to the Jakarta Stock Exchange.
The company added that tin metal output in the first quarter of this year rose by 85.5 percent to 11,780 tons, from 6,349 tons in the corresponding period of 2002.
Timah operates tin mines and a large tin smelting plant in Bangka-Belitung province. (leo)