Aug 2, 2011

DEWA returns to US$2.65 mio net profit

Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to net profit of US$2.65 million in the first half of this year, a 180.79% jump from US$3.28 million net loss a year earlier.
DEWA's net profit was underpinned by higher revenue, especially contributed by Kaltim Prima Coal, Arutmin Indonesia, and Glencore Coal Mauritius Ltd.
DEWA also returned to operating profit of US$10.76 million in 1H 2011 from US$3.19 million net loss in 1H 2010. Revenue rose 41.78% to US$147.62 million from US$104.12 million.
The biggest contributor for Darma Henwa's revenue was KPC with US$83.43 million revenue, a 16.88% increase from US$71.38 million.
Arutmin contributed a 142.28% rise in revenue to US$34.50 million from US$14.24 million, while Glencore contributed US$29.69 million revenue from US$17.78 million.

Disclosure: No position at the stock mentioned above.

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