A sharp drop of tin price during the first half this year has significantly battered net profit of state-owned tin maker PT Timah Tbk.
In a public statement to Indonesia Stock Exchange late this afternoon today, Timah first half profit tumbled by 96.14% from Rp1,111.8 trillion to merely Rp42.9 billion. Its operating profit dipped by89.32% from Rp1,672 trillion to Rp178.6 billion, while the company's sales shrunk by 15.7% from Rp4.20 trillion to Rp3.54 trillion.
The company was also beset by 38.30% tumble of tin price average from US$19,591 per metric tonnes (MT) to US$12,087 per MT. In contrast, its first half refined tin sales elevated by 15% from 20.954 MT to 24,110 MT. Timah tin production downed from 22,992 MT to 19,378 MT in the first half this year.
0 comments:
Post a Comment