BAKRIE BROTHERS SUFFERS RP16.6 TRILLION NET LOSS

Jakarta, April 3 (ANTARA) - Publicly listed PT Bakrie & Brothers suffered a net loss of Rp16.624 trillion in 2008, a condition which was quite different from a year earlier when it recorded a net profit of Rp223.36 billion.

In a financial report published here on Friday, PT Bakrie & Brothers said the losses were due to reverses in partnership sales in its subsidiaries and affiliate firms worth Rp17.06 trillion and setbacks totaling f 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' net profit in 2008 showed a significant increase of 59 percent to Rp8.404 trillion from Rp5.288 trillion in 2007.

Its business profit also increased 45 percent to Rp1.251 trillion from Rp862.142 billion 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.

Its cash flow also increased in 2008 to Rp1.049 trillion from Rp883.975 billion it booked a year earlier.***