Petrosea suffers net loss of Rp 7.2 billion
Tuesday, November 4 2003 - 02:44 AM WIB
Publicly listed engineering, construction and mining contractor PT Petrosea Tbk reported Monday an unaudited operating revenue of Rp 512.06 billion (US$1=Rp 8,500) during the first nine months of this year or a 12.6 percent drop from Rp.576.60 billion in the same period last year.
In a report filed to the Jakarta Stock Exchange (JSX), the company said the decline in the operating revenue had resulted in a net loss of Rp 7.2 billion or Rp 70 per share in the period. In comparison, the company posted net profit of Rp 3.6 billion or Rp.35 per share in the same period last year.
Petrosea, which is a subsidiary of Australia's Clough Engineering Group, works for several mining firms including PT Barisan Tropical Mining, PT Bukit Baiduri Enterprise, PT Freeport Indonesia, PT Gunung Bayan Pratama Coal, PT Kaltim Prima Coal, PT Kelian Equatorial Mining. It is also engaged in construction of oil and gas for Unocal Makassar Limited. (robert)