Aug 4, 2010

Truba Manunggal 1H profit tumbles 73%

EPC contractor PT Truba Alam Manunggal Engineering Tbk (TRUB) today reports a 73.34% tumble in the first half earning this year as a resulf of higher interest.
In a financial statement submitted to Indonesia Stock Exchange (IDX), Truba Manunggal posted Rp23.76 billion or Rp2 per share of net profit in 1H 2010 from a year earlier of Rp89.12 billion or Rp6 per share.
Truba recorded Rp112.04 billion of debt interest, an increase compared to the same period last year of Rp43.38 billion.
In the operational line, the company booked Rp93.72 billion of operating profit in 1H 2010, a 41.17% rise from a year earlier of Rp66.39 billion on the back of lower operating expenses and cost of goods sold. Revenue fell 14.74% from Rp1.56 trillion in 1H 2009 to Rp1.33 trillion in 1H 2010.

Disclosure: No position at the stock mentioned above.

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