VIVAnews - PT Timah Tbk only gained consolidated net profit of Rp 14.4 billion in the first quarter of 2009, cut by 97 percent compared to the same period of 2008 at Rp 487.3 billion.
Net profit per share fell to Rp 2.9 per share compared to the previous Rp 96.8 per share in the first quarter of 2008.
A financial report that the Indonesian Stock Exchange (IDX) issued on Friday, May 1, stated that the decrease was mainly triggered by the tumbled average prices of tin in that period.
Metal production dropped to 10,462 metric tons in the first quarter of 2009 compared to the previous 11,523 metric tons. Total tin ores production also declined by 39 percent from 8,730 tons Sn to 5,288 tons Sn.
Income from product sales in that period reached Rp 1.58 trillion or 12 percent lower than the same period of 2008 at Rp 1.81 trillion.
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Translated by: Bonardo Maulana Wahono
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