Mar 8, 2012

Petrosea FY11 net profit rises 24.56%

Coal mining contractor PT Petrosea Tbk (PTRO) today reported a 24.56% increase in net profit last year on the back of stable growth in revenue.
Petrosea, a subsidiary that is controlled by energy integrated company PT Indika Energy Tbk (INDY), posted US$52.64 million net profit last year from US$42.26 million a year earlier.
Gross profit rose 38.10% to US$76.33 million from US$55.27 million, while direct cost also increased 42.35% to US$187.44 million from US$131.68 million.
Petrosea's consolidated revenue increased 41.19% to US$263.77 million from US$186.95 million.

Disclosure: No position at the stock mentioned above. 


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4 comments:

Coal said...

The use of renewables for generating power is to be congratulated. The latest coal publications and coal prices is that emerging countries are predicting to use large amounts of thermal coal for power generation and coal mining for steel production.
Cherry of www.coalportal.com

Coal said...

Have you seen whats been reported in coal industry and coal reports lately? The latest coal market news is that emerging countries are predicting to use large amounts of thermal coal for power generation and coal mining for steel production and they are investing heavily onshore and offshore to secure the coal they need so that they can meet increasing demand for electricity and steel. Cherry of www.coalportal.com

Coal said...

coal publications would suggest the commodity isn't going anywhere. Coal reports show if we have to live with it, we may as well reduce the impact of coal and CCS seems to be the best solution found to date. Cherry www.coalportal.com While for some an ideal world would see no reliance on coal industry to produce electricity,

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