May 18, 2011

KKGI to distribute Rp50/share dividend

Indonesia's tenth largest coal miner in term of concession area, PT Resource Alam Indonesia (KKGI), part of Rain Group, announced a Rp50 per share dividend or representing 30.1% of 2010's net profit after tax. 
Resource Alam recorded a 275.3% jump in net profit last year on the back of better average selling price (ASP) and higher sales volume.
Resource Alam, with concession area of 24,478 hectares located in East Kalimantan, posted Rp81.9 billion net profit or Rp81.9 per share in 2010 from Rp21.8 billion or Rp21.8 per share in a year earlier.
The ASP rose 12% to US$50.3 per ton from US$44.9 per ton and 110.1%, while sales volume jumped 110.1% to 828,497 tons from 394,315 tons.
Production volume increased 83.8% to 846,983 tons from 460,930 tons. In line with a steep jump of the bottom line, operating profit surged 262.1% to Rp112.6 billion billion from Rp31.1 billion, sending a higher operating margin to 30.3% from 18.6%.
Resource Alam's gross profit soared 144.9% to Rp191.5 billion from Rp78.2 billion, reflecting an increase in gross margin to 51.6% from 46.7%.
Revenue jumped 121.7% to Rp371.4 billion from Rp167.5 billion. Resource Alam's cash position rose 68.2% to Rp210.3 billion compared to Rp132 billion. 
Pintarso Adijanto (Tan Hong Pheng), one of Adijanto's son, is in charge as Resource Alam's President Director and Swandono Adijanto (Tan Hong Swan) is one of the company's Commissioner.
Pintarso and Swandono have other siblings, Winoto Adijanto (Tan Hung Hwie), Suparno Adijanto (Tan Hong Kiat), Muriati Adijanto (Tan Phe Phe), Pandjijono Adijanto (Tan Hong Phang), and Mariana Adijanto (Tan Phwe Leng).

Disclosure: No position at the stock mentioned above.  

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