PT Petrosea Tbk (PTRO) posted a net profit of U.S. $ 42.254 million in 2010. Corporate earnings up more than 25-fold from the previous period, U.S. $ 1.59 million.
According to company financial reports are published on Wednesday (03/02/2011), the increase in earnings mainly contributed by the portion of earnings from PT Santan Coal (SB) and PT Tirta Kencana Cahaya Mandiri (TKCM) as an associate, with a value of U.S. $ 14.385 million.
Company revenues fell from U.S. $ 171.826 million to U.S. $ 186.949 million. With the load that reached U.S. $ 131.683 million, PTRO recorded a gross profit of U.S. $ 55.266 million.
Company operating income also fell 3.04% to U.S. $ 38.296 million from the previous period last year, U.S. $ 39.497 million. The fall in operating profit performance for administrative expenses increased slightly from U.S. $ 15.9 million to U.S. $ 16.97 million.
However, income before direct taxes immediately improved, even rocketed over the entry of income from associated companies amounted to U.S. $ 14.385 million. Profit before tax rose from only U.S. $ 4.564 million to U.S. $ 51.593 million.
Net income ultimately be at the level of U.S. $ 42.254 million, with earnings per share from the previous U.S. $ 0.41, U.S. $ 0.01.
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