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Kamis, 02 Juni 2011

Sumalindo Q1 Loss Widens - The Indonesia Today

Forestry company PT Sumalindo Lestari Jaya Tbk (SULI) posted net loss of Rp48.06 billion in the first quarter (Q1) of 2011, compared to loss Rp14.28 billion in the corresponding period of last year.

Revenue dropped 32% to Rp95.78 billion from Rp140.74 billion a previous year while cost of good sold declined 24% to Rp108.59 billion from Rp143.49 billion a year earlier.

The company recorded gross loss of Rp12.8 billion and operating loss of Rp25.61 billion, compared to operating profit of 5.69 billion in the first quarter of 2010. It also recorded financial charges of Rp45.14 billion.

As of March 2011, its assets totaled Rp1.84 trillion and liability amounted Rp1.54 trillion.

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