Jul 27, 2011

Resource Alam 1H profit surges 208%

Indonesia's tenth largest coal miner in term of concession area, PT Resource Alam Indonesia (KKGI), part of Rain Group, today reported a skyrocket net profit of 208.09% on the back of strong coal sales volume and higher selling price.
Resource Alam posted Rp214.40 billion net profit or Rp214 per share for the first 6 months of this year (1H 2011) from Rp69.59 billion or Rp70 per share a year earlier (1H 2010). Operating profit surges 194.40% to Rp293.02 billion from Rp99.53 billion.
KKGI's gross profit jumped 157.38% to Rp524.57 billion from Rp293.81 billion, while net sales reached Rp981.09 billion, a 137.24% surge from Rp413.55 billion.
Resource Alam, with concession area of 24,478 hectares located in East Kalimantan, is owned and founded by Adijanto family.
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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