ID :
15202
Thu, 08/07/2008 - 17:18
Auther :
Shortlink :
https://www.oananews.org//node/15202
The shortlink copeid
INCO'S PROFIT PLUNGES 58 PCT
Jakarta, Aug 7 (ANTARA) - PT International Nickel Indonesia (Inco) said on Thursday its net profit in the first half of 2008 plunged 58.2 percent to US$295.6 million from the same period last year on declining sales.
Sales in the first semester of 2008 fell 37.3 percent to US$819.2 million from US$1.305 billion in the same period last year, Inco President Director Arif Siregar said in a press statement.
The declining sales were the result of a 4.9 percent drop in nickel matte production in the first half of this year to 37,151 metric tons from 39,052 metric tons in the previous semester, he said.
"As previously expected, the low production in the second quarter of 2008 was caused by a delay in the maintenance of equipment from the first quarter to the second quarter of 2008 and the unscheduled maintenance of equipment," he said.
For its part, Inco must repair a reduction kiln because damage to a bullgear spring as well as to one of electrical kilns reduced production by an estimated 1,800 metric tons, he said.
"We are trying to offset the lost production before the end of this year so we can achieve the production target of 77,000-79,000 metric tons for 2008," he said.
Sales in the first semester of 2008 fell 37.3 percent to US$819.2 million from US$1.305 billion in the same period last year, Inco President Director Arif Siregar said in a press statement.
The declining sales were the result of a 4.9 percent drop in nickel matte production in the first half of this year to 37,151 metric tons from 39,052 metric tons in the previous semester, he said.
"As previously expected, the low production in the second quarter of 2008 was caused by a delay in the maintenance of equipment from the first quarter to the second quarter of 2008 and the unscheduled maintenance of equipment," he said.
For its part, Inco must repair a reduction kiln because damage to a bullgear spring as well as to one of electrical kilns reduced production by an estimated 1,800 metric tons, he said.
"We are trying to offset the lost production before the end of this year so we can achieve the production target of 77,000-79,000 metric tons for 2008," he said.
