Bumi profit +80%, Gajah Tunggal dropped 66%
PT Bumi Resources reported net profit of USD222 million in 2006, jumped 80% from USD123 million in 2005. Meanwhile tire manufacturer PT Gajah Tunggal Tbk recorded 66% drop in net profit to Rp118bn (against Rp346bn).
According to its financial statement published today, Bumi recorded USD1.85 billion of sales, slightly increased from USD1.75 billion in 2005. Bumi booked gross profit of USD484.4 million, less than 10% growth from USD441 million in 2005. With lower operating expenses, Bumi then recorded net operating income of USD323 million (against USD263 million in 2005). Actually Bumi targetted EBITDA of USD480 million for 2006 from two coal mining subsidiaries (KPC and Arutmin).
The coal mining giant's net profit mainly contributed by lower tax expenses at USD2.52 million against USD56 million in 2005 plus gain from sale of service agreement at USD32 million. Hm...and today the company is expected to announce the winner of 30% shares divestment at KPC and Arutmin.
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According to its financial statement published today, Bumi recorded USD1.85 billion of sales, slightly increased from USD1.75 billion in 2005. Bumi booked gross profit of USD484.4 million, less than 10% growth from USD441 million in 2005. With lower operating expenses, Bumi then recorded net operating income of USD323 million (against USD263 million in 2005). Actually Bumi targetted EBITDA of USD480 million for 2006 from two coal mining subsidiaries (KPC and Arutmin).
The coal mining giant's net profit mainly contributed by lower tax expenses at USD2.52 million against USD56 million in 2005 plus gain from sale of service agreement at USD32 million. Hm...and today the company is expected to announce the winner of 30% shares divestment at KPC and Arutmin.
Labels: Arutmin, Bumi Resources, KPC
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posted by yosef at 7:57 AM
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