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Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME


COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal market research).

All sectors showed positive growth except for the mining sector. The slowdown in mining sector was the result of downward trend of coal price and implementation of mineral (non-coal) export taxes. The condition is further exacerbated by  increasing competition as the impact of slowdown demand in China that drove reallocation of heavy equipment supply to other countries, including  Indonesia market.  This is reflected in Komatsu sales volume which was down to 4,231 units or 2% below the volume in first half 2011, PT United Tractor Tbk said in its Investor Bulletin.

UT further said in its report, on the Mining Contracting business, commitment to precise execution of mining contracting services drove Pama to deliver 12% increase in coal production and 13% growth in overburden removal. On coal mining business, the Company increased the coal sales volume by 38% from 2.21 million tons to 3.05 million tons.

UT’s performance during first semester 2012 recorded 19% increase in consolidated revenue, from Rp 25.62 trillion (approximately US$ 2,694,570,000) in the first half of 2011 to Rp 30.61 trillion (approximately US$ 3,219,390,000). To this total net revenue, Construction Machinery contributed 46.6%, Mining Contracting contributed 41.9%, whereas the remaining 11.5% contribution was from Mining business unit.

The growth of net revenue was accompanied by growth of consolidated gross profit of 25%, reaching Rp 5.53 trillion (approximately US$ 581,615,000) from Rp 4.44 trillion (approximately $ 466,975,000). This rise is primarily obtained from  increased gross profit contribution from Construction Machinery and Mining Contracting segment, while gross profit from Mining business was decreased due to lowered average selling price of coal. Overall, combined with some additional other expenses and income tax, caused the Company’s net profit to reach Rp 3.09 trillion (approximately US$ 324,989,000), or 22% above first half 2011’s profit of  Rp 2.54 trillion
(approximately US$ 267,143,000).



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