Aug 1, 2011

Dian Swastatika 1H profit surges 613%

PT Dian Swastatika Sentosa Tbk (DSSA), a parent company of coal miner PT Golden Energy Mines that is controlled by Fuganto Widjaja, son of Sinarmas family's Indra Widjaja, reported a 613.03% surge in earning for the first half of this year.
DSSA booked US$26.81 million earning in 1H 2011 from US$3.76 million in 1H 2010. Operating profit skyrocketed 307.68% to US$40.85 million from US$10.02 million. Gross profit jumped 173.24% to US$69.43 million from US$25.41 million.
Dian Swastatika booked a 46.04% increase in revenue to US$263.55 million from US$180.47 million. The largest contributor for the company's consolidated revenue was coal mining and trading at US$143.72 million.
Dian Swastatika has several subsidiaries focusing on coal mining such as PT Borneo Indobara, PT Kuansing Inti Makmur, PT Manggala Alam Lestari, PT Nusantara Indah Lestari, PT Wahana Alam Lestari, PT Bara Kencana Sakti, PT Bara Harmonis Batang Asam, PT Kencana Cemerlang Persada, PT Tanjung Belit Bara Utama, PT Berkat Nusantara Permai, PT Nusa Indah Permai, and PT Bungp Bara Utama.

Disclosure: No position at the stock mentioned above.

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