Nov 15, 2010

Berlian Tanker 9M net loss shrinks 79%

Shipping operator PT Berlian Laju Tanker Tbk (BLTA) enabled to drag down its net loss 79.55% during the first 9 months ended September 30 2010.
In the financial statement submitted to Indonesia Stock Exchange (IDX) today, Berlian Tanker posted US$36.21 million net loss in 9M 2010 from US$177.07 million net loss in 9M 2009.
Operating profit slightly fell 4.77% from US$82.61 million in 9M 2009 to US$78.67 million in 9M 2010.
In line with operating profit drop, Berlian Tanker's gross profit decreased 5.86% from US$104.37 million in 9M 2009 to US$98.25 million on the back of higher cost of revenue 14.47%.
Operating revenue inched up 9.76% from US$450.62 million in 9M 2009 to US$494.59 million in 9M 2010.

Disclosure: No position at the stock mentioned above.

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