Samindo (MYOH) Revenue surged 28.2% in 2018

KONTAN.CO.ID - JAKARTA. An integrated coal mining service provider company in Indonesia, PT Samindo Resources Tbk, recorded excellent performance throughout 2018. The issuer coded MYOH shares incised revenues of US $ 241.1 million, up 28.2% from the previous year of US $ 188.07 million.

In terms of profitability, all components recorded a positive increase. The main driver of the increase in MYOH profitability is supported by the efficiency that has been encouraged since early 2018.
Management encourages all activities, especially operations, to be carried out effectively. The thing meant is that the costs arising from inefficiencies can be reduced.

Ahmad Zaki, Investor Relations Manager of PT Samindo Resources Tbk, stated that MYOH management regularly strives to improve the capabilities and professionalism of all companies. "Various training and certifications have been carried out by the company every year," he said.

In terms of non-operational costs, MYOH also made some efficiency. General and administrative expenses recorded a decrease of 8.9% compared to 2017.

"MYOH management always emphasizes to all corporate entities to always be professional and strive to always improve the capabilities of each individual in a sustainable manner, this has proven to be successful in boosting the profitability of the Company throughout 2018," Ahmad Zaki added Wednesday (20/3).

MYOH incised the current year's profit of US $ 30.93 million, up around 151.3% compared to 2017 amounting to US $ 12.31 million.