Publicly listed PT Delta Dunia Makmur Tbk (DOID), parent company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), showed a better performance in the third quarter (July-September) of 2010 compared to the second quarter (2Q 2010).
In the first 9 months of this year, Delta Dunia posted Rp351.93 billion net income, Rp755.96 billion operating profit, and Rp4.19 trillion revenue.
I can't compare it with the performance of the first 9 months of last year due Delta Dunia's fully consolidated BUMA's financial performance starting from the first quarter of this year.
If you look quarterly result, the 3Q 2010 reflected better performance compared to the 2Q result. Delta Dunia's 3Q 2010 revenue at Rp1.49 trillion was higher than Q2 and Q1 revenue which stood at Rp1.42 trillion and Rp1.28 trillion respectively.
In return, income from operations of the company in 3Q 2010 achieved Rp294.1 billion, higher than the previous two quarters of Rp231.82 billion (2Q) and Rp230.04 billion (1Q). Operating margin in the 3Q showed a slight improvement from 17.09% in 2Q to 18.03%.
Net income rose to Rp145.75 billion in 3Q 2010 from Rp55.54 billion in 2Q (the worst for the whole year). But the 3Q net income remained lower than the 1Q result of Rp150.64 billion.
Disclosure: No position at the stock mentioned above.
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