The Jakarta Post, Jakarta | Business | Thu, May 02 2013, 8:21 AM
State-owned tin miner PT Timah recorded lower first quarter (Q1) profits due to a reduction in sales.
The
company's QI net profit booked was Rp 102.8 billion; a decline of
around 51 percent compared to Rp 207.7 billion in the same period of
last year.
The company reported lower revenue -- of around 30
percent --during the January to March period from Rp 2.17 trillion in
2012 to Rp 1.53 trillion in Q1 this year. The revenue decline was
attributed to lower refined tin sales volume; 5,820 metric tons during
the first three months of 2013, a year on year decline of around 35
percent from 9,022 metric tons.
The company's average selling
price stood at $23.910 per metric tons, an increase of 4 percent
compared to $23,101 in the first quarter of 2012.
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