Aug 10, 2010

Asia Resources 1H profit drops 40.89%

Publicly listed PT Asia Natural Resources Tbk booked a 40.89% decrease in net sales from Rp103,41 billion in semester I/2009 to Rp61,12 billion in semester I/2010.
In the first half of 2010 financial statements published today, operating profit of Asia Resources was eroded by 39.02% even though it tried to shrink cost of goods sales amounted of 40.19%.
The company obtained operating profit of Rp5,25 billion at the end of June 2010 compared with same period last year of Rp8,61 billion.
As a result, net income of Asia Resources also declined by 10.03% from Rp3.99 billion or Rp1.76 per share as of June last year to Rp3.59 at the end of June this year.
This morning, the listed company coded ASIA remained stagnant at the level of Rp116 per share with a market capitalization of Rp263.90 billion. 

Disclosure: No position at the stock mentioned above. 

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