PT Bakrie&Brothers Tbk (BNBR) returned in net profit of Rp45.49 billion for the first 6 months of this year after suffering a prolonged net loss. The company booked Rp171.51 billion net loss in 1H 2010.
The positive bottom line was mainly driven by write-off interest expenses of Rp362.08 billion and foreign exchange gain of Rp281.18 billion.
Operating profit fell 41.68% to Rp296.69 billion from Rp508.76 billion, while gross profit slightly dropped 5.39% to Rp1.93 trillion from Rp2.04 trillion.
Bakrie posted net revenue of Rp6.48 trillion, reflecting a 7.46% increase from Rp6.03 trillion.
Disclosure: No position at the stock mentioned above.
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