Jakarta, 28 April 2008 (ANTARA) - PT Timah (Persero) Tbk reported today its operating performance and the Unaudited Consolidated Financial Statement of PT Timah (Persero) Tbk and its subsidiaries for the period ended 31 March 2008. The report maintained that the Company posted a net profit of Rp 487,3 billion, or 55% higher than that of the same period in 2007 of Rp 314,3 billion. Hence, the net income per share was also 55% higher from Rp625,- per share in the first quarter 2007 to Rp968,- per share in the first quarter this year.
Higher net profit was due to higher price of tin received during the first quarter of 2008. Average tin price received by the company during the first quarter of 2008 was US$ 17.133 per metric ton, or 36% higher than average price received in the same period of 2007 of US$ 12.635 per metric ton. Meanwhile, the exchange rate of the US Dollar to Rupiah received by the Company was 2% higher compared to that of the same period last year, from Rp9.134, to Rp9.291 per US Dollar.
Sales volume of refined tin in the first quarter of 2008 amounted to 10.176 metric tonnes, which was 30% lower than that of the same period last year of 14.554 metric tonnes.
Production of refined tin which was 20% lower from 14.350 tonnes in the first quarter of 2007 to 11.523 tonnes in the first quarter of 2008. In line with production of refined tin production, the total tin-in-concentrates production decline to 61 % than the same period of 2007 that was 22.329 tonnes. Main factor that influence the total production of tin-in-concentrate lower to 8.730 was bring down of in-land mining production turn into 6.178 tonnes in first quarter of 2008 than 20.230 metric tonnes in 2007.
Procure tin-in-concentrate in the first quarter of 2007 further high as a result of overflowing from local people after keep under control of in-land mining at October 2006 by local government.
Sales revenue in first quarter of 2008 is Rp1.811,9 billion or 3% lower compared to that same period last year of Rp1.858,9 billion, at the same time cost of goods sold was 25% lower from Rp1.259,4 billion in the first quarter 2007 to Rp945,9 billion in the same period 2008.
The amount of revenues consisted of sales of refined tin of Rp1.619, 9. billion (89%), sales of coal Rp184.8. billion (10%), and the remaining were from sale of engineering services, ship dock service and exploration services which were amounted Rp915 billion, Rp2,7 billion and Rp3,66 billion respectively.
Total company asset increase by 26% in the first quarter of 2008 of Rp5.181,2 billion compared to that same period of 2007 Rp4.100,8 billion. Dominant factor that influence the total asset is growing up of the Company current asset of 44 %.
*) Unaudited consolidated Financial Statement of PT Timah (Persero) Tbk and subsidiaries for the period ended 31 March 2008 and 2007, is also available at Capital Market Reference Centre (PRPM), Indonesia Stock Exchange Building.
For further information, please contact:
Abrun Abubakar, Corporate Secretary
Tel: +62 21 344 4011
Fax: +62 21 344 4012
Email: investorrelation@pttimah.co.id
www.timah.com
Higher net profit was due to higher price of tin received during the first quarter of 2008. Average tin price received by the company during the first quarter of 2008 was US$ 17.133 per metric ton, or 36% higher than average price received in the same period of 2007 of US$ 12.635 per metric ton. Meanwhile, the exchange rate of the US Dollar to Rupiah received by the Company was 2% higher compared to that of the same period last year, from Rp9.134, to Rp9.291 per US Dollar.
Sales volume of refined tin in the first quarter of 2008 amounted to 10.176 metric tonnes, which was 30% lower than that of the same period last year of 14.554 metric tonnes.
Production of refined tin which was 20% lower from 14.350 tonnes in the first quarter of 2007 to 11.523 tonnes in the first quarter of 2008. In line with production of refined tin production, the total tin-in-concentrates production decline to 61 % than the same period of 2007 that was 22.329 tonnes. Main factor that influence the total production of tin-in-concentrate lower to 8.730 was bring down of in-land mining production turn into 6.178 tonnes in first quarter of 2008 than 20.230 metric tonnes in 2007.
Procure tin-in-concentrate in the first quarter of 2007 further high as a result of overflowing from local people after keep under control of in-land mining at October 2006 by local government.
Sales revenue in first quarter of 2008 is Rp1.811,9 billion or 3% lower compared to that same period last year of Rp1.858,9 billion, at the same time cost of goods sold was 25% lower from Rp1.259,4 billion in the first quarter 2007 to Rp945,9 billion in the same period 2008.
The amount of revenues consisted of sales of refined tin of Rp1.619, 9. billion (89%), sales of coal Rp184.8. billion (10%), and the remaining were from sale of engineering services, ship dock service and exploration services which were amounted Rp915 billion, Rp2,7 billion and Rp3,66 billion respectively.
Total company asset increase by 26% in the first quarter of 2008 of Rp5.181,2 billion compared to that same period of 2007 Rp4.100,8 billion. Dominant factor that influence the total asset is growing up of the Company current asset of 44 %.
*) Unaudited consolidated Financial Statement of PT Timah (Persero) Tbk and subsidiaries for the period ended 31 March 2008 and 2007, is also available at Capital Market Reference Centre (PRPM), Indonesia Stock Exchange Building.
For further information, please contact:
Abrun Abubakar, Corporate Secretary
Tel: +62 21 344 4011
Fax: +62 21 344 4012
Email: investorrelation@pttimah.co.id
www.timah.com
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