JAKARTA - Publicly listed nickel mining company PT International Nickel Indonesia Tbk (INCO) said on Saturday its net profit last year surged 156.7 percent to US$437.4 million from a year earlier on higher sales. Sales rose 67.6 percent to US$1.276 billion last year from US$761 million the year before, INCO Director and Chief Financial Officer Fabio Bechara said in a press statement.
"The average selling price of nickel matte in 2010 increased 47.5 percent to US$16.568 per ton from US$11.277 per ton in 2009," he said.
He said the total sales of nickel matte last year reached 77,035 metric tons, a 13.65 percent increase compared to 67,782 metric tons in the previous year. Last year the company also saw its total nickel production increase to 75,989 metric tons from 67,329 metric tons a year ago, he said.
He said earnings before interest, taxes, depreciation and amortization (EBITDA) last year reached US$677.6 million, a 106.7 percent surge compared to US$327.8 million a year earlier.
As a result, net profit climbed to US$437.4 million (US$0.004 per share)last year from US$170.4 million (US$0.017 per share) in 2009. The company booked a net profit of US$170.4 million in 2009.
source : kompas.com
