Nov 5, 2010

Krakatau Steel posts Rp1.05 trio profit

Public listed Indonesia's largest steel maker PT Krakatau Steel (Persero) Tbk posted Rp1.05 trillion net income for the first 9 months ended September 30 2010, surpassing last year's bottom line at Rp495 billion.
State-Owned Enterprises Minister Mustafa Abubakar said the IPO procedure of Krakatau Steel is in line with regulation.
He said the company booked Rp11.88 trillion revenue at the end of September 2010, Rp5.03 trillion below 2009's consolidated revenue at Rp16.91 trillion. In the first half of 2010, Krakatau Steel reported Rp9 trillion revenue and Rp997.8 billion net profit.

Disclosure: No position at the stock mentioned above.  

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