Jul 26, 2010

Suparma 1H profit tumbles 34.67%

Pulp and paper producer PT Suparma Tbk (SPMA) suffered a 34.67% drop in its earning in the first half this year as a result of financial charges and foreign exchange loss.
In 1H 2010's financial result reported to Indonesia Stock Exchange (IDX) today, Suparma posted Rp17.98 billion of net profit in 1H 2010 from a year earlier of Rp27.52 billion. The company book Rp19.32 billion of financial charges in 1H 2010, down from a year earlier of Rp29.64 billion. But, it suffered a forex loss of Rp13.23 billion 1H 2010, a reversal from a year earlier of foreign exchange gain of Rp35.01 billion.
Operating income rose 27.93% from Rp32.94 billion in 1H 2009 to Rp42.14 billion in 1H 2010. Net sales increased 24.46% from Rp466.71 billion in 1H 2009 to Rp580.87 billion in 1H 2010.

Disclosure: No position at the stock mentioned above.  

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