Indon's Polysindo posts Rp521.9bn op loss in first 9 mths

22 November 2002 01:20  [Source: ICIS news]

JAKARTA (CNI)--Indonesian purified terephthalic acid (PTA) and textile producer PT Polysindo Eka Perkasa posted an operating loss of Rp521.9bn ($57.9m/Euro57.7m) in the first nine months of 2002 -- slightly more than its loss of Rp509.5bn in the same period last year.

Polysindo booked consolidated sales of Rp2.90trn -- down by 7.3% from Rp3.14trn in the4 first nine months last year, mainly due to a significant drop in local sales.

One company executive said local sales dropped around 11% while exports remained almost unchanged.

The company's cost of goods sold dropped by 5.56%, resulting in a gross loss of Rp128.26bn up from Rp77.34bn in the same period last year.

While interest payments increased to Rp396.6bn from Rp218.2bn, Polysindo managed to gain Rp1.79trn in foreign exchange transactions against a loss of Rp127.0bn in the same period last year. As a result, the company booked net profit of Rp880.75bn, down from the Rp1.74trn net profit it booked last year.

By: Jack Lukup
+65 6780 4359

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