Aneka Tambang

Mining company PT Aneka Tambang (Antam) Tbk recorded net profit of Rp841.93 billion last year, slightly increased from Rp810.24 billion in 2004. But in US dollar terms, Antam's profit actually slightly reduced by 1.85% from US$87.22 million to US$85.6 million last year as the rupiah depreciated against US dollar by around 6% last year.

Antam, 65% of its shares owned by government, booked net sales of Rp3.287 trillion (US$334 million), 15% growth from Rp2.858 trillion in 2004. Meanwhile its cost of goods sold increased from Rp1.497 trillion to Rp1.827 trillion, resulting in gross profit of Rp1.46 trillion last year (Rp1.36 trillion in 2004).

As the company's operating expenses grew significantly from Rp262 billion to Rp324 billion, Antam booked operating profit of Rp1.135 trillion (US$115 million) last year (US$118 million in 2004).

Antam has total assets of Rp6.4 trillion (US$651 million) as of December 31, 2005. The company is projecting US$400 million revenue this year with the resume of FeNi III plant that would boost ferro nickel output and a possible higher price in the world market.

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