JAKARTA. The 5.5% growth in PT Samindo Resources Tbk's (MYOH) revenue was unable to offset the increase in the company's cost of revenue, which caused the company's net profit to decline by 15.62% YoY from US$ 30.89 million to US$ 26.07 million.
The mining company recorded US$ 254.45 million in revenue in 2019, 5.5% higher than its revenue in 2018. However, the company's cost of revenue increased by 11.4% to US$ 212.68 million.
Overburden removal and coal getting services was the business line with the largest contribution to the company's revenue, contributing US$ 189.53 million or 74.48% of the company's total consolidated revenue. While coal transportation services contributed US$ 62.83 million or 24.7%. (AM/AR)