PT Mahaka Media Tbk suffered a 31.07% drop in the first half's net profit this year as a result of net loss from subsidiaries.
In the first half financial statement submitted to Indonesia Stock Exchange (IDX), Mahaka Media posted Rp884.41 million net profit in the first half this year from a year earlier of Rp1.28 billion net profit.
But, Mahaka Media booked Rp5.49 billion operating profit in 1H 2010, a 323.17% jump from the same period last year of net loss worth Rp2.46 billion.
Operating expenses slightly increased 1.96% from Rp30.07 billion in 1H 2009 to Rp30.66 billion in 1H 2010. But, cost of goods sold rose 44.55% from Rp25.79 billion in 1H 2009 to Rp37.28 billion in 1H 2010.
Mahaka's net sales surged 37.52% from Rp53.39 billion in 1H 2009 to Rp73.42 billion in 1H 2010.
Disclosure: No position at the stock mentioned above.
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