August 9, 2012
Indonesia's Pupuk Kalimantan's H1 net profit up 33%
Pupuk Kalimantan Timur, Indonesia's biggest fertiliser producer company, has posted a rise of 33% in its net profit at IDR940.99 billion (US$99 million) for the first half of 2012 compared to the same period last year.
The state-run firm's sales revenue for the first half of the year rose 36% on-year to IDR6.2 trillion (US$655 million), mainly driven by 75% rise in compound fertiliser sales and 37% rise in urea sales.
Pupuk Kalimantan's raw materials and operational cost surged in the reporting quarter, however, it managed to book operational profit growth of 27% on-year to IDR1.29 trillion (US$136 million).
The company's total assets stood at IDR10.8 trillion (US$1.1 billion) at the end of June quarter, while equity remained at IDR6.23 trillion (US$658 million). Pupuk Kaltim is Indonesia's leading manufacturers of urea and ammonia with an output capacity of 2.98 million tonnes and 1.85 million tonnes a year of urea and ammonia respectively.