Bakrie post Rp 16.6 t annual loss on sales of assets

The Jakarta Post   |  Fri, 04/03/2009 4:28 PM  |  Business

Publicly listed PT Bakrie & Brothers suffered a net loss of Rp16.624 trillion (US$1.4 billion) last year, a deep plunge from the Rp 223.36 billion in net profit recorded in 2007, Antara newswire reported Friday.

The company said in a statement that the losses were due to reverses in partnership sales in its subsidiaries and affiliate firms worth Rp17.06 trillion and setbacks totaling Rp526 billion from foreign currency transactions.

Therefore, the company's net profit per share also dropped to minus Rp236.81 per share compared with plus Rp6.28 per share in 2007.

In the meantime, Bakrie & Brothers' sales in 2008 showed a significant increase of 59 percent to Rp8.404 trillion from Rp5.288 trillion in 2007.

According to the report, the total assets of PT Bakrie & Bothers in 2008 drastically rose 80 percent to Rp25.501 trillion from that in 2007 which was recorded at Rp862.142 billion only.
 
Comments (0)  |   Post comment
A  |   A  |   A  |   Mail to a friend  |  Printer Friendly Version |  Digg it!  |  Add to Del.icio.us!  |  Add to Reddit!  |  Stumble it!   |  Share on facebook  

What's On

more
more
more