May 11, 2016 12:25:45
Resource Alam Indonesia coal export lowered 16%

JAKARTA - Coal export of PT Resource Alam Indonesia Tbk (KKGI) decreased 16% to US$24.9 million in the first quarter 2016 compared to US$29.7 million in 2015 over the same period.

Referencing the company's first quarter statement submitted to Indonesia Stock Exchange (IDX), Resource Alam Indonesia did not record sales to major client Maxrise Trading Limited in the 1Q16, who had contributed 21% of the company's total sales the previous year over the same period.

At the same time, the company was able to secure client KCH Energy CO Ltd, which had contributed 16% of the company's sales in 1Q16. Resource Alam Indonesia was also able to boost sales to its largest client Nature Ore Trading Ltd, who had contributed 65% of the sales by 1Q16

The company's total revenue by the first quarter 2016 had reached US$25 million or 16% lower compared to US$29.8 million last year over the same period. The revenue was also supported by small sales of high pressure laminate and melamine laminated particle boards.

With in the first three months of this year, the company posted a gross profit of US$5.73 million, down 15% year-on-year (yoy). Operational income amounted US$2.93 or down 6% yoy. And income for the year attributable to owners of the parent entity amounted US$2.5 million or 75% higher yoy. (CH)