Jakarta: Until first half of 2019, state-owned coal company PT Bukit Asam Tbk recorded a net profit of RP2.01 trillion or 24.4 percent decrease compared to the same period last year, which was Rp2.65 trillion.
According to a press statement released on Tuesday, September 17, 2019, the cost of goods sold was recorded at Rp 6.96 Trillion or 13% increase compared the the same period the previous year, which was RP 6.14 Trillion.
The largest composition and increase occurred in rail transportation costs which was in line with the increase in coal transportation volume, mining service costs, production and stripping ratio in the first half of 2019 amounted to 4.6 from 4.3 in Semester 1 2018.
Nevertheless, the company recorded operating revenues of Rp10.6 trillion, consisting of 53% domestic coal sales, 45% export coal sales and 2% other activities such as electricity, briquettes, oil sales crude palm oil, hospital health services and rental services.
This operating income was influenced by the average selling coal price which dropped by 6.8% to Rp778.821 per ton from Rp835.965 per ton in the first semester of 2018.
Furthermore, the company's assets reached Rp23.41 Trillion with the largest composition in fixed assets of 29% and cash equivalents of 23%.
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