ID :
67137
Mon, 06/22/2009 - 23:21
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https://www.oananews.org//node/67137
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INDAH KIAT SUFFERS $3.16 MILLION IN LOSSES
Jakarta, June 22 (ANTARA) - Publicly-listed pulp maker PT Indah Kiat Pulp & Paper Tbk said on Monday it suffered a loss of US$3.16 million in the first quarter of 2009 on a slump in net sales.
First-quarter net sales plunged to US$375.93 million from US$611.9 million a year earlier, Indah Kiat President Director Yudi Setiawan Lin said.
The 38.56 percent drop in net sales was the main cause of the loss, according to the company's financial statement reported to the Indonesia Stock Exchange (BEI).
Domestic sales in the year to end March plummeted 52 percent to US$148.77 million from US$309.97 million a year earlier, while exports plunged 24.77 percent to US$227.15 million from US$301.93 million.
The company posted a net profit of US$61.13 million in the first quarter of 2008.
First-quarter net sales plunged to US$375.93 million from US$611.9 million a year earlier, Indah Kiat President Director Yudi Setiawan Lin said.
The 38.56 percent drop in net sales was the main cause of the loss, according to the company's financial statement reported to the Indonesia Stock Exchange (BEI).
Domestic sales in the year to end March plummeted 52 percent to US$148.77 million from US$309.97 million a year earlier, while exports plunged 24.77 percent to US$227.15 million from US$301.93 million.
The company posted a net profit of US$61.13 million in the first quarter of 2008.
