TBBA's profit falls 33%

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)