PT Indah Kiat Pulp & Paper Tbk (INKP), pulp and paper producer under Sinar Mas Group, was suffering September net loss of US$167.51 million compared to a year before of US$238.68 million of net profit.
Along with 'red bottom line', the company net sales plunged 33.69% from US$1.87 billion in September last year to US$1,24 billion this year. Indah Kiat experienced operating loss of US$46.74 million at the end of third quarter this year from profit of US$344.81 million.
Following Indah Kiat worsened performance, PT Pabrik Kertas Tjiwi Kima Tbk (TKIM) September report was slashed compared to last year.
Company net profit dropped 29.45% from US$55.42 million to US$39.10 million in September 2009, while net sales downed 20.25% from US$1.07 billion to US$855.02 million. Tjiwi Kimia operating profit sank 21.97% from US$98.20 million to US$76.63 million in September this year.
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