TBBA's profit falls 33%

JAKARTA (JP): State coal producer PT Tambang Batubara Bukit Asam (TBBA) booked a Rp 59.86 million (US$7.48 million) net profit after tax last year, falling sharply by 33 percent from Rp 89.31 billion in 1996.

The company's president, R.A Sunardi, said in Tanjung Enim, South Sumatra, that the decline of the company's profit was due the currency turmoil and various internal and external factors, including the weakness of its management.

He said that the company also could not surpass its initial target to produce 11.5 million tons this year. It produced 9.9 million tons last year, up from 9.29 million tons in 1996.

He said that last year, the company's gross profit was Rp 328.96 billion, almost similar to 1996's figure of Rp 328.92 billion. (gis)