Medco Energi H1 net $27.08 million vs $33.61 million
Tuesday, August 3 2004 - 12:21 AM WIB
Publicly-listed oil and gas company PT Medco Energi Internasional on Monday said its net profit fell 19% to US$27.08 million during the first half of the year from $33.61 million a year earlier, The Jakarta Post newspaper reported on its website on Tuesday citing Dow Jones Newswires.
It said that its sales costs rose 12% to $134.08 million from $120.08 million.
The increase in the costs of sales outpaced the 0.5% gain in revenue of $228.99 million during the January-June period, from $227.96 million in the year-ago period.
Medco didn't comment on its first-half performance.
Thailand's PTT Exploration & Production PCL owns 34% of Medco.(*)