Timah?s net profit drops nearly 85%
Tuesday, March 8 2016 - 02:05 AM WIB
IDX-listed tin giant PT Timah Tbk reported net profit last year dropped by 84.9 percent due to higher cost of revenue and operational costs, undermining margins.
The company said Monday that net profit in 2015 tumbled to Rp 101.56 billion from Rp 672.99 billion in 2014.
Revenue fell by 8.52 percent to Rp 6.87 trillion last year from rp 7.51 trillion in the previous year.
The company also reported that assets shrank by 5.69 percent to Rp 9.28 trillion.
Editing by Reiner Simanjuntak