Antam's Net Profit Falls by 73%

Sumber :

VIVAnews - In 2008, PT Aneka Tambang Tbk (ANTM) only garnered net profit of Rp 1.36 trillion (US$114.8 million). The company's profit tumbled by 73 percent compared to 2007 with Rp 5.12 trillion (US$432.6 million).

Antam Corporate Secretary, Bimo Budi Satriyo, said in the company's financial report that the Indonesian Stock Exchange (IDX) publicized the net profit per share was recorded Rp 143.48 per share or a decrease compared to 2007 with Rp 536.67 per share.

The audited 2008 net profit increased by four percent or Rp 55 billion (US$4.6 million) compared to the pre-audited financial report, following the completed auditing process that Public Accountant Office Purwantono, Sarwoko & Sandjaja (Ernst & Young) carried out.

Antam set out some adjustment in its pre-audited 2008 financial report which was once issued on February 27.

The adjustment in the 2008 net profit was caused by the increase in the final invoice of feronikel sales valuing Rp 54 billion (US$4.5 million).

Antam's subsidiaries, PT Antam Resourcindo and Asia Pacific Nickel Pty Ltd, contributed Rp 2 billion and Rp 700 million each.

For the time being, Antam controls 100 percent shares in Gag Nikel. The ownership occurred after BHP Billiton surrendered its share ownership in BHP Asia Pacific Nickel Pty Ltd, which possessed 75 percent of Gag Nikel shares to Antam.

--

Translated by: Bonardo Maulana Wahono