Krakatau Steel nets over 100% profit increase in 2010
The Jakarta Post, Jakarta | Tue, 03/29/2011 4:42 PM
State-owned steel firm PT Krakatau Steel booked a more than 100 percent increase in net profits last year for a total of Rp 1.06 trillion (US$121.9 million), from Rp 494.7 billion in 2009.
The profit increase was supported by lower operating and interest costs as the company saw its net revenues in 2010decline, according to its 2010 financial report as reported by tempointeraktif.com on Tuesday.
Krakatau Steel's 2010 net revenue was Rp 14.86 trillion, a decline from Rp 16.91 trillion in 2009.
The company's total assets, however, increased from Rp 12.8 trillion in 2009 to Rp 17.6 trillion in 2010.
