JAKARTA (Yosefardi) – Coal producer PT Golden Energy Mines Tbk (GEMS), controlled by Sinarmas Group and GMR Infrastructure, booked net profit of Rp170.57 billion in first nine months of this year, increased 6.9% from Rp159 billion in the same period of last year.
Net sales was flat at Rp3 trillion while cost of sales reached Rp2.39 trillion. Its assets totaled Rp3.77 trillion while liability amounted Rp823.86 billion. The company has cash and cash equivalent of Rp714.9 billion.
Sales of coal mining reached Rp1.4 trillion while revenue from coal trading totaled Rp1.96 trillion. Sales to export market was Rp1.54 trillion.
Sales to Indah Kiat Pulp & Paper reached Rp900 billion, representing 30% of total sales and sales to Pabrik Kertas Tjiwi Kimia amounted Rp206.76 billion (10%). While sales to Freeland Universal Limited totaled Rp493.18 billion and sales to Oleander Financial Pte Ltd, Singapore was Rp153.13 billion.