JAKARTA. PT Bumi Resources Minerals Tbk (BRMS) posted a net profit of US$1.9 million in the first quarter (Q1) 2022, growing 14% year-on-year (yoy) or compared to the same period last year.
The net profit growth was supported by the increase in BRMS' revenue. The company's revenue in Q1 2022 was recorded at US$2.9 million, grew 118% yoy or from Q1 2021 which reached US$1.36 million.
Herwin W. Hidayat, Director & Chief Investor Relations Officer of BRMS, said that the company's revenue increase was supported by higher gold production figures. In Q1 2022, the company's gold production was recorded at 41 kilograms (kg). Meanwhile, in the same period the previous year, gold production only reached 24 kg.
Meanwhile, Agus Projosasmito, President Director of BRMS, said that the company will continue to improve its production and financial performance. Especially gold production, which contributed 83% to the company's total revenue in Q1 2022.
"The construction of our second gold factory in Palu (4,000 tons of ore per day) according to schedule will be completed this year," said Projosasmito in an official statement. "This new gold factory will have a positive impact on the company's production performance, revenue and net profit in the future," he added. (KR/LM)