Nov 1, 2011

Delta Dunia suffers Rp12.14 bio net loss

Coal mining contractor PT Delta Dunia Makmur Tbk (DOID), that is owned by a collaboration of Northstar Pacific Partner, Texas Pacific Group, and China Investment Corporation (CIC), suffered a Rp12.14 billion net loss in 9M 2011 from a Rp351.93 billion net profit in 9M 2010.
The loss was mainly contributed by loss on term liabilities redemption and derivative financial instrument expenses of Rp156.45 billion and Rp204.59 billion.
Operating profit fell 48.86% to Rp482.84 billion from Rp755.96 billion, dragging down its margin of 36.13% to 9.69% from 18.03% on the back of higher expenses. Cost of goods sold increased 29.32% and operating expenses rose 48.86%.
Delta Dunia's net revenue increased 18.85% to Rp4.98 trillion from Rp4.19 trillion.

Disclosure: No position at the stock mentioned above.

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