JAKARTA - PT Trada Alam Minera Tbk (TRAM) managed to improve the company's performance after changing its name and main business lines. Previously, the company managed the shipping transportation business and shift its business in the coal mining sector.
TRAM's net profit in the first semester of this year was recorded at Rp 44.75 billion. This achievement increased by 89.94% compared to the first semester of 2018 amounting to Rp 23.56 billion.
The company hopes that increase in profits will continue until the end of 2019 given the average daily production of PT Gunung Bara Utama, which has just been acquired by the company, reaches 300,000 tons of coal. It is planned that the daily production will be increased to optimize the company's financial performance.
The increase in TRAM's net profit was supported by the company's revenue which also increased 64.57% on an annual basis to Rp 2.11 trillion. This revenue also pushed the company's gross profit up to 114.13% to Rp 367.08 billion compared to June 2018 of Rp 171.43 billion.
For information, TRAM's operating profit in 2019 also increased 30.91% to Rp 165.61 billion. Profit before tax grew significantly from Rp 7.91 billion in 1H 2018 to Rp 93.01 billion in 1H 2019. This surge in profit was supported by foreign exchange earnings of Rp 8.26 billion and a decrease in financial expenses to Rp 83.69 billion. (LM)