Publicly listed CPO player PT Bakrie Sumatera Plantations Tbk (UNSP) suffers a 26.67% drop in its first half earning on the back of soaring financial interest charges.
In the financial report submitted to Indonesia Stock Exchange (IDX), Bakrie Plantations posted IDR99.14 billion or IDR8.50 per share in the first half this year (1H 2010) from a year earlier of IDR135.19 billion or IDR36 per share.
The company has been burdened by soaring interest charges of IDR212.91 billion in 1H 2010, a 90.93% surge from a year earlier of IDR111.51 billion.
Bakrie Plantations also recorded IDR57.45 billion of amortization on goodwill in 1H 2010 from a year earlier of IDR13.29 billion.
Operating profit reached IDR332.71 billion in 1H 2010, a 37.97% increase compared to the same period last year of IDR241.15 billion.
Bakrie Plantations booked IDR1.13 trillion of net sales, a 8.65% rise from a year earlier of IDR1.04 trillion.
Disclosure: No position at the stock mentioned above.
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