Mar 23, 2011

Indosiar FY10 net income abates 2.6%

PT Indosiar Karya Media Tbk (IDKM) in an information disclosure to Indonesia Stock Exchange announced that its net income in 2010 fell 2.6% to IDR8.29 billion, compared to IDR8.51 billion in 2009.
The report on performance also mentioned that the company’s profit last year shrank as net income plunged 12.21% to IDR749 billion from IDR853 billion in the previous year.
Meanwhile, the company coded as IDKM succeeded in reducing debts by 20.73% to IDR320.68 billion, from IDR404.57 billion.
“The financial position of the company and subsidiary in the current year is improving because of decline in costs of programs and broadcasting, as well as interest expenses. It is reflected in decreasing losses in cumulative balance to IDR484.88 billion,” Director Indosiar Santoso Tandio said.

Disclosure: No position at the stock mentioned above.

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