Nov 15, 2010

Arpeni Ocean 9M loss balloons 197%

Shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL)'s net loss ballooned 197.57% from Rp197.47 billion in the first 9 months ended September 30 2009 to Rp587.62 billion in 9M 2010 as a result of worsening operating revenue.
In a limited review's financial report submitted to Indonesia Stock Exchange (IDX), operating income tumbled 63.88% from Rp64.42 billion in 9M 2009 to Rp23.27 billion in 9M 2010.
Arpeni's operating revenue fell 15.98% from Rp873.14 billion in 9M 2009 to Rp733.64 billion in 9M 2010.
 
Disclosure: No position at the stock mentioned above.

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