Nov 5, 2010

Mitra Resources net loss balloons 39%

Publicly listed PT Mitra International Resources Tbk (MIRA)'s net loss ballooned 39.64% for the fist 9 months ended September 30 2010 as a result of revenue drop.
In the financial statement submitted to Indonesia Stock Exchange (IDX) today, Mitra posted Rp895.19 billion net loss in 9M 2010 from Rp641.05 billion net loss in 9M 2009.
Operating income also tumbled 39.41% from Rp498.81 billion in 9M 2009 to Rp302.25 billion in 9M 2010.
Mitra's gross profit fell 34.10% from Rp595.68 billion in 9M 2009 to Rp392.54 billion in 9M 2010.
The company booked Rp1.66 trillion revenue in 9M 2010, a 18.23% plunge from Rp2.03 trillion in 9M 2009.

Disclosure: No position at the stock mentioned above.

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