Indonesian Timah’s Q3 profit rise on higher Sn prices

摘要

Indonesian tin producer Timah Monday posted na net profit of Rupiah 171 billion ($19.4 mil-nlion) for the third quarter of 2011, up 11.8% nyear on year, due to higher tin prices. The nrefined tin price the company received averaged $25,970/mt in Q3, up from n$19,166/mt in the same period a year nearlier, the company said in a report. nRevenue totaled Rupiah 1.986 trillion nin Q3, up from Rupiah 1.866 a year nearlier, while gross profit totaled Rupiah n410 billion, up from Rupiah 294 billion nin Q3 2010. Timah’s tin in concentrate nproduction increased to 10,464 mt in nQ3 from 9,535 mt a year earlier, com-nprising 5,155 mt from onshore projects nand 5,309 mt from offshore production. nThe company’s refined tin production ntotaled 10,078 mt, down a marginal n0.5% year on year, while sales of refined ntin totaled 7,809 mt, down 21.6% year non year, the company said in the report, nwithout elaborating. For the nine months nto end September, net profit totaled nRupiah 860 billion, up 81% year on year. nThe global refined tin price averaged n$27,754/mt over the nine month period. nTimah’s assets totaled Rupiah 6.65 tril-nlion as of September 2011, while liabili-nties amounted Rupiah 2.09 trillion, the ncompany said.