DJ PT Timah's 1H Profit Up On Tin Price; 2H Output May Be Lower
JAKARTA (Dow Jones)--Indonesia's PT Timah Tbk (TINS.JK), the world's biggest integrated tin producer, saw its net profit surge by more than 30% in the first half of this year, due to the company's higher production and soaring tin prices, a company official said Thursday.
But overproduction of refined tin in the first half may result in the company decreasing output in the second half, said Prasetyo Saksono, a spokesman for PT Timah.
The company reported a net profit of IDR780.8 billion in the first six months of 2007, up from IDR23.9 billion during the same period last year, said Saksono.
PT Timah produced 32,567 metric tons of refined tin in the first half, up 54% from 21,134 tons a year earlier due to increasing tin ore supplies from land mining.
But Saksono said the company's refined tin output target of 48,000 tons for 2007 means it might have to cut output in the second half.
"We should only be producing around 16,000 tons of refined tin in the second half of this year. But we may increase or decrease output based on tin prices in the international market."
Saksono said the company doesn't have a restriction on how much refined tin it can export, and price valuation of tin is a prime consideration of how much tin the company mines and exports each year.
He declined to state the price range for tin that would pressure the company to increase or decrease its output.
The company recently halted spot sales of tin, reportedly because the price of tin on the London Metal Exchange was too low. Media reports said the company would resume spot sales only if the price went back above $15,000 a ton - a level last seen earlier this month.
Saksono said the company will continue to monitor tin prices before resuming such sales.
Spot tin sales constitute 20%-30% of the company's total sales. Contracted sales make up the remaining bulk of its sales.
"We have a greater commitment to our long-term buyers, and spot sales will always take second place to their needs," said Saksono, when asked if tin meant for spot sales will be made available to the company's contracted buyers.
He said the company also increased its refined tin sales by 60% in the first half of this year, selling 30,456 tons compared with 19,038 tons in the first half of last year.
PT Timah sold its tin at an average price of $13,459/ton in the first half, a 66% increase from $8,120/ton during the same period last year.
The company reported sales revenue of IDR4.07 trillion for the first half of 2007, up from IDR1.73 trillion during the same period a year ago.
Indonesia is the world's second-largest tin producer after China.
-By Fawziah Selamat, Dow Jones Newswires; 62 21 3983 1277; fawziah.selamat(*)dowjones.com
(END) Dow Jones Newswires
August 30, 2007 05:01 ET (09:01 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.- - 05 01 AM EDT 08-30-07
On 8/30/07, Halim Mintareja <hmin918(*)gmail.com> wrote:
>
>
>
>
>
>
> saya dapat dari RTI..
> besok pasti masuk koran
>
>
> On 8/30/07, James Arifin <james.arifin(*)gmail.com> wrote:
> >
> > maksudnya output 2Q 2007 = 2H2007 artinya 3Q 2007 kurang lebih output
> > 1/2 Q2 2007, ada yg bisa cek berapa pengiriman TINS di bulan Juli dan
> > Agustus 2007? kalau memang kurang dari 1/3 output Q2 2007 maka klaim
> > bung Hmin betul.
> >
> > Ada yg berkenan mengecek kebenarannya ... biar nggak ada yang ngomong
> > tanpa dasar
> >
> > On 8/30/07, Halim Mintareja < hmin918(*)gmail.com> wrote:
> > >
> > >
> > >
> > >
> > >
> > >
> > > sell pak SB.. sudah ngak ada power... bandar mau cabut
> > >
> > > output 2Q 07 bakalan sama dengan 2H07..
> > >
> > > so outlook sudah jebol
> > > PE >5 saat harga komoditas di puncak.. .game over
> > >
> > >
> > >
> > > On 8/30/07, sbudianaY <sbudiana(*)yahoo.com.sg > wrote:
> > > >
> > > >
> > > >
> > > >
> > > > Wuahahaha, yang satu bilang turun 10.000 dan yang lain bilang 15.000,
> > > kacau balaulah, yang benar yang mana yah, binun aku, hehehe......
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > > From: obrolan-bandar(*)yahoogroups.com
> > > [mailto: obrolan-bandar(*)yahoogroups.com] On Behalf Of Herman
> > > > Sent: 30 Agustus 2007 14:14
> > > > To: saham(*)yahoogroups.com; obrolan-bandar(*)yahoogroups.com
> > > > Subject: [obrolan-bandar] Tin tembus 15rb lagi
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > >
> > > > No virus found in this incoming message.
> > > > Checked by AVG Free Edition.
> > > > Version: 7.5.484 / Virus Database: 269.12.10/977 - Release Date:
> > > 28/08/2007 16:29
> > > >
> > > >
> > > > ________________________________
> > >
> > > >
> > > > I am using the free version of SPAMfighter for private users.
> > > > It has removed 3634 spam emails to date.
> > > > Paying users do not have this message in their emails.
> > > > Try SPAMfighter for free now!
> > > >
> > > >
> > >
> > >
> > >
> > >
> > >
> >
> >
> > + +
> > + + + + +
> > Mohon saat meREPLY posting, text dari posting lama dihapus
> > kecuali memang diperlukan.
> > + + + + +
> > + +
> > Yahoo! Groups Links
> >
> >
> >
> >
>
>
>
>
Received on Thu Aug 30 2007 - 10:19:45 EDT
|
|