JAKARTA (Yosefardi) – Coal producer PT Toba Bara Sejahtera Tbk (TOBA) posted net profit of US$12.84 million in first quarter (Q1) of this year, jumped 115% from US$5.97 million in the same period of last year.
Sales rose 29% to US$122 million from previous US$94.94 million. Operating profit surged 142% to US$17.67 million from earlier US$7.74 million.
Sales to Glencore International AG reached US$21.89 million, Mercuria US$16.63 million, Trafigura US$12.78 million, PT Pinang Export Indonesia US$12.2 million, and Dragon Energy Corporation US$4.19 trillion.
In Q1 of 2013, sales to Trafigura was US$879,588, sales to Dragon Energy US$18.59 million, and sales to Flame SA US$10.19 million. TOBA made no sales for Flame SA in Q1 of 2014.
Its assets totaled US$300 million while liability amounted US$162.15 million. It has cash and cash equivalent of US$47.4 million.