Timah 2004 revenue Rp 2.8t

Timah 2004 revenue Rp 2.8t

Indonesian tin miner PT Timah said 2004 sales jumped 47 percent on-year to Rp 2.8 trillion from Rp 1.9 trillion a year earlier due to an increase in the commodity's prices.

Timah President Thobrani Alwi told reporters on Tuesday the higher sales should increase the company's 2004 net profit to Rp 180 billion, more than double the Rp 76 billion a year earlier.

"The higher prices of tin last year helped jack up our revenue," Thobrani said.

Tin prices last year averaged $8,000 per metric ton, compared with $4,500 per ton in 2003, he added.

Thobrani didn't give any other key details.

Tin is used mainly in the chemical, electronics and plating sectors.

Thobrani expects Timah's 2005 revenue to increase by at least 10 percent on-year on expectations its annual coal production will rise to 1.5 million metric tons this year from 400,000 metric tons last year.

To diversify its business, Timah last year acquired stakes in several coal companies in Indonesia.

The government owns a 65 percent stake in Timah. -- Dow Jones