United Tractors' Q1 sales up 4%

United Tractors' Q1 sales up 4%

JAKARTA: First quarter net sales of publicly-listed heavy equipment and mining company PT United Tractors increased by 4 percent to Rp 1.59 trillion (US$183 million) from Rp 1.53 trillion during the same period last year.

In its report to the Jakarta Stock Exchange on Monday, the company said the rise was attributed to the increase in the sales of its heavy equipment and coal products.

However, the company's net profit for this quarter dropped to Rp 81.3 billion compared to Rp 138.3 billion last year.

The company said the decline was caused by increasing operational costs and foreign exchange loss. -- JP