Aug 16, 2010

Berlian Tanker posts US$24.49m profit

Publicly listed tanker transportation provider PT Berlian Laju Tanker Tbk (BLTA) today reports US$24.49 million net profit during the first half this year, a reversal from net loss at the end of June last year of US$172.79 million as a result of lowering net other charges.
In the financial statement published today, Berlian Tanker booked US$34.99 million net other charges in 1H 2010 from US$239.93 million.
In fact, operating profit sank 10.89% from US$67.59 million in 1H 2009 to US$60.23 million in 1H 2010 on the back of higher cost of goods sold by 14.71% from US$223.79 million in 1H 2009 to US$256.70 million.
Operating revenue slightly increased 7.85% from US$305.67 million in 1H 2009 to US$329.66 million in 1H 2010.
Disclosure: No position at the stock mentioned above.  

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