Coal mining contractor PT Darma Henwa Tbk (DEWA) suffered a US$2.81 million net loss in the first quarter of this year, a reversal from net profit of US$7.82 million in 1Q 2011.
Darma Henwa, a subsidiary of coal miner PT Bumi Resources Tbk (BUMI), also reported a US$4.45 million operating loss from operating profit of US$13.83 million on the back of a 44.40% increase in cost of goods sold to US$80.13 million from US$55.49 million. Revenue slightly increased 9.16% to US$75.67 million from US$69.32 million.
Disclosure: No position at the stock mentioned above.
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