UT reports Pama?s H1 performance

JSX-listed heavy equipment maker PT. United Tractors Tbk reported Friday that its mining contracting division under PT Pamapersada Nusantara (Pama) recorded net revenue of IDR 1.83 trillion, 23.7% higher compared to IDR 1.48 trillion during the first half of 2003.

Pama?s production for the first six months of this year has reached 14.4 million tons of coal and 89.3-million bcm overburden, as compared to 13.9 million tons of coal and 62.4-million bcm overburden in 2003.

Gross profit margin as of June 2004 is 15.9%, as compared to last year?s 14.5%, while operating profit margin has increased to 13.3% as compared to 11.6% during the first half of 2003.

Aside from the existing projects, Pama is preparing to start several new projects, such as for PT Arutmin Indonesia, located in Asam-asam, South Kalimantan, and for PT Jembayan Muara Bara, located in Tenggarong, East Kalimantan. Each projects is expected to deliver 3 million tons of coal per year. Another project is for PT Tanjung Alam ? PT Timah Tbk, located in Banjar, South Kalimantan, which is expected to deliver 1 million tons of coal per year. This project is run by one of Pama?s subsidiaries, PT Kalimantan Prima Persada.(alex)