PT Timah's profits up 64%

PT Timah's profits up 64%

JAKARTA (JP): PT Tambang Timah, a listed tin mining company,
announced a 64 percent increase in its net profit yesterday to Rp
70.6 billion (US$30.17 million) in the first semester of this
year from Rp 43 billion in the same period of 1995.

The company attributed the profit rise to an increase in its
sales volume and the strengthening of tin prices on the world
market.

Realized tin prices averaged at US$6,363 per ton in the first
semester of 1996, compared to $5,866 per ton in the same semester
of 1995.

The company said its tin sales for the first semester of this
year increased by 16 percent to 19,030 tons from 16,416 tons in
the first semester of last year, while its tin production rose by
10 percent to 18,527 tons from 16,845 tons.

Tambang Timah, whose shares are mostly owned by the
government, is listed on the London and Jakarta stock
exchanges. (hen)