JAKARTA - PT Trada Alam Minera Tbk pocketed revenues of Rp 3.48 trillion over the past year, surging 579.68% compared to revenue earned in 2017 of Rp 512.23 billion.
However, the cost of revenue also skyrocketed to Rp 2.91 trillion compared to the income achieved in the previous year of Rp 431.72 billion. In the end, TRAM recorded a net profit of Rp 295.48 billion, after losing Rp 33.15 billion in 2017.
TRAM's Managing Director, Soebianto Hidayat, said that the significant increase in income was obtained from the contribution of PT Gunung Bara Utama (GBU). "Our subsidiaries in the coal mining sector contribute 68.47%," he explained, Monday (1/4).
Whereas the other revenue was obtained from mining services, namely SMR Utama or a subsidiary of PT Ricobana Abadi, contributed 24.42%.
"This is a positive result of the company's corporate actions carried out at the end of 2017 by acquiring coal mining companies and coal mining services," he explained.
He added that the increase in GBU's revenue came from coal production growing by 2.6 million tons of coal, in the previous year coal production was only 265,000 tons. At present their average production is 300,000 tons per day.
"We are optimistic that the business prospects will be brighter in the future," he concluded. (AM/LM)