The state-controlled tin producer PT Timah Tbk (TINS) reported a 113.78% jump in attributable profit, driven by higher tin prices.
Timah booked Rp688.99 billion profit in 1H 2011 from Rp322.29 billion in 1H 2010. Gross profit rose 81.76% to Rp1.25 trillion from Rp689.08 billion, sending a higher margin to 25.88% from 18.38%. Net revenue increased 28.8% to Rp4.83 trillion from Rp3.75 trillion.
Disclosure: No position at the stock mentioned above.
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