Profit contribution from PT Newmont Nusa Tenggara (NNT) to PT Bumi Resources Minerals Tbk (BRMS) has shrunk 52.58% to Rp1.01 trillion from Rp2.13 trillion, sending a 19.53% drop in the consolidated net profit.
Bumi Minerals posted Rp664.70 billion net profit or Rp27.46 a share last year from Rp826.02 billion or Rp64.35 a share.
Operating profit plunged 75.49% to Rp26.52 billion from Rp108.19 billion as a result of the steep increase in operating expenses of 288.09% to Rp156.44 billion from Rp40.31 billion. Bumi Minerals' revenue increased 23.19% to Rp182.96 billion from Rp148.51 billion.
Bumi Minerals owns 18% stake in Newmont via PT Multi Daerah Bersaing. Bumi Minerals owns 75% stake in Multi Daerah.
Bumi Minerals' subsidiary dubbed Bumi Resources Japan Company Limited (BRJ) took more loan facility from Nomura International Plc to US$27 million from US$21 million.
Bumi Minerals booked a Rp2.54 trillion long term loan facilities from several lenders such as Credit Suisse of Rp2.49 trillion, Nomura of Rp103.56 billion, Bank Muamalat of Rp17.96 billion, and Bank Bukopin of Rp9.38 billion. BRMS is a subsidiary of PT Bumi Resources Tbk (BUMI).
Disclosure: No position at the stock mentioned above.
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