UT enjoys another robust year

Indonesia-listed heavy equipment distributor and coal miner PT United Tractors (UT) reported hefty growth in revenue and net profit last year from a year earlier, thanks to strong performance in all of its business lines.

Consolidated revenue rose 48 percent in 2011 to Rp55.05 trillion from Rp37.32 trillion in the previous year, with net profit increasing by 52 percent from Rp3.87 trillion to Rp5.9 trillion, it said in a statement.

On the mining contracting business, the jump in demand and price of coal drove the high mining activities throughout the year. Unit PT Pamapersada Nusantara (Pama) recorded 11 percent increase in coal production and 22 percent increase in overburden removal, from 77.9 million tons of coal and 651.5 million bcm overburden, to 86.8 million tons of coal and 796.4 million bcm overburden.

On the coal sales business, throughout 2011 the company sold 4.5 million tons, quite a substantial jump from 3.1 million tons in the prior year.

It also recorded Komatsu heavy equipment sales volume of 8,467 units or grew 57 percent compared to the year before. The jump of heavy equipment demand was driven by mining, plantation and construction sector.

Editing by Dadan Wijaksana