First Media 9M net income slumps 63%

Wandrik Panca Adiguna | 13 Desember 2010 11:37 WIB

JAKARTA: PT First Media Tbk net income declined 63% to IDR27.2 billion in the third quarter of 2010 compared to IDR44.6 billion in the third quarter of 2009.

However, the company's revenue rose 12% or IDR605 billion in the third quarter of 2010 compared to IDR531 billion in the third quarter of 2009, said Finance Director First Media Irwan Djaja.The companys cost of services actually has decreased that derived from the cost of content for cable television amounted to ID69 billion," he said this afternoon.Irwan added that the companys set target for its corporate revenues to reach IDR825 billion by then end of 2010.He also revealed that the corporate earnings before interest, taxes, depreciation, and amortization (EBITDA) also increased by 24% to IDR182 billion in the third quarter of 2010 compared to IDR138 billion in the same period last year.PT Bursa Efek Indonesia (BEI) had suspended the trading of First Media shares in order to cooling down the trading last week.The suspension conducted due to a significant increase in the cumulative price from the closing price on 16 November 2010 at IDR390 to IDR800 on 9 December 2010. But today, the trading of First Media shares has been reopened and traded at IDR800. (t06/wiw)

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