UT?s net income increases 19% in Q2
Wednesday, July 25 2012 - 10:37 AM WIB
Indonesia-listed heavy-equipment distributor and coal mining firm PT United Tractors (UT) reported that its net revenue increased 19 percent in the first semester this year to Rp 30.61 trillion compared to Rp 25.62 trillion in the same period of 2011.
The increase in net revenues was contributed by heavy equipment distribution contributing 46.6 percent to revenues. UT?s mining contracting PT Pamapersada Nusantara ('Pama') contributed 41.9 percent with the remaining from the mining business unit run by PT Prima Multi Mineral and PT Tuah Turangga Agung.
It said that until June 2012, Komatsu sales volume reached 4,231 units or down 2 percent compared to the same period last year due to slowdown in demand for heavy equipment in the mining sector which was affected by the decline in coal price and the implementation of mineral export taxes that caused demand in nickel sector to drop.
Out of the total Komatsu sales volume, the largest portion of sales went to mining sector, namely by 60 percent, followed by plantation which contributed 21 percent, then construction and forestry sectors by 13% and 6%, respectively, the company said.
On the mining contracting business, commitment to precise execution of mining contracting services drove Pama to achieve 31 percent increase in net revenue reaching Rp 12.83 trillion, with an increase in total coal production volume of 12 percent at 45.1 million tons and 13 percent in overburden removal at 415.2 million bcm.
Meanwhile on coal mining business, the UT?s coal sales volume increased by 38 percent from 2.21 million tons to 3.05 million tons with recorded revenue of Rp 3.52 trillion.
Editing by Adianto P. Simamora