JAKARTA: Coal miner PT Atlas Resources Tbk booked a decline in net profit by 48.17% during Q1/2012 compared to the same period last year.
The company posted January – March 2012 net income as much as US$1.16 million, while last year’s net profit reached US$2.23 million.
Meanwhile company’s sales increased 8.22% from US$16.70 million to US$18.07 million. Gross profit declined 11% to US$3.95 million.
This year, Atlas Resources has budgeted US$71 million capital expenditure for a number of business expansion.
As much as 25% proceeds from bonds amounted to IDR1 trillion to be issued by the company in the near future will be used for capital expenditure.
Atlas appointed PT DBS Vickers Securities Indonesia, PT Mandiri Sekuritas, PT Indo Premier Securities, and PT Standard Chartered Securities Indonesia as the underwriters. (T07/faa)
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