Jul 18, 2011

Truba Alam suffers Rp55 bio net loss

EPC company PT Truba Alam Manunggal Engineering Tbk (TRUB) suffered a Rp55.16 billion net loss in 2010, a 125.49% drop from net profit of Rp216.43 billion in the previous year.
Truba Manunggal, in the 2010's financial statement submitted to Indonesia Stock Exchange today, the net loss was contributed by interest payment of Rp142.51 billion last year as an impact of restructuring of its shareholders loan facility. 
"It is purely due to interest payment as a result of the debt restructuring in 2009," said Gamal Katoppo, Truba's Company Secretary today. 
At the operational line, Truba Manunggal posted a 81.41% jump in operating profit to Rp125.88 billion from Rp69.39 billion. The company's revenue slightly fell 5.86% to Rp2.57 trillion from Rp2.73 trillion.

Disclosure: No position at the stock mentioned above.  

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