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Jakarta Post

Antam sales decline on lower output, prices

  • The Jakarta Post

    Jakarta

  /   Mon, February 2 2009   /  04:05 pm

In a statement sent over the weekend, the company said full-year unaudited sales reached Rp 9.5 trillion (US$880 million) in 2008, down from the Rp 11.8 trillion booked in 2007. Lower output amid falling demand and prices were the main reasons for the decline in sales, the statement said. In 2008, Antam produced 17,566 tons of ferronickel, 5 percent less than its 2007 output. It sold 17,026 tons of the alloy, which represented a 3 percent decline from 2007. The situation was then exacerbated by the lower price, with the average realized ferronickel price in 2008 down around 37 percent from a year earlier. The lower price and weakening demand had been seen since the last quarter of last year, with sales in the fourth quarter of 2008 declining 38 percent. During the period of October, November and December, unaudited sales fell to Rp 2.11 trillion from Rp 3.38...