Aug 12, 2011

Petrosea 1H profit slightly drops 4.8%

Coal mining contractor PT Petrosea Tbk (PTRO), a majority stake owned by PT Indika Energy Tbk (INDY), integrated energy company that is controlled by Agus Lasmono and Wiwoho Basuki Tjokronegoro, reported a slight decrease in net profit of 4.86% for the first 6 months of this year as other charges steeply increased.
In an unaudited report published today, Petrosea, which is set to refload a maximum of 20% shares next month, posted US$19.18 million net profit in 1H 2011 from US$20.16 million net profit in 1H 2010.
Net other charges steeply surged 877.61% to US$4.62 million from net other income of US$594,000. Gross profit increased 13.18% to US$28.90 million from US$24.37 million. Petrosea recorded a 26.58% in revenue to US$112.39 million from US$88.77 million.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: