Jul 28, 2010

Ratu Prabu suffers 49% profit drop

Oil and gas producer PT Ratu Prabu Energi Tbk suffered a 49.48% drop in net profit during the first half this year as a resulf of lower sales.
In a financial report submitted to Indonesia Stock Exchange, Ratu Prabu posted Rp11.28 billion of net profit in 1H 2010 from a year earlier of Rp22.33 billion.
Operating profit tumbled 54.49% from Rp72.11 billion in 1H 2009 to Rp32.82 billion in 1H 2010. Ratu Prabu's revenue slumped 36.16% from Rp271.72 billion in 1H 2009 to Rp173.46 billion in 1H 2010.

Disclosure: No position at the stock mentioned above. 

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