Aug 15, 2011

Davomas suffers Rp14.55 billion net loss

PT Davomas Abadi Tbk suffered a net loss of Rp14.55 billion for the first 6 months of this year from Rp8.23 billion net profit a year earlier.
The net loss of Davomas, cocoa butter maker, was mainly driven by a 14.99% decrease in revenue to Rp588.93 billion from Rp692.82 billion. As a result, gross profit decreased 7.59% to Rp106.68 billion from Rp115.45 billion. 
Hassocks Enterprises Ltd owns 23.17% stake in Davomas, PT Citi Pacific Securities holds 20.27%, Caterpillar Associates Ltd holds 11.46%, and Lehman Brothers Investments Pte Ltd s/a SA holds 11.11%. Krigler Holdings Ltd, Polar Cap Investments Ltd, and public investors hold 7.75%, 6.09%, and 20.15%.

Disclosure: No position at the stock mentioned above.

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