Indah Kiat posts US$11.79 million loss

JAKARTA: Pulp and paper producer PT Indah Kiat Pulp and Paper Tbk booked US$11.79 million net loss in 1Q/2011 compared to US$44.63 million net income in 1Q/2010.Produsen pulp & kertas industri di bawah kendali Grup Sinarmas, PT Indah Kiat Pulp and Paper Tbk, membukukan rugi bersih sebesar US$11,79 juta pada kuartal I/2011 dibandingkan dengan laba bersih US$44,63 juta pada periode yang sama tahun lalu.In financial statement as per March 31, 2011, the loss had led to widening deficit by 6.3% to US$199.69 million from US$187.91 million in 1Q/2010.Despite the loss, net sales rose 13.4% to US$644.09 million from US$567.74 million in 1Q/2010. Nevertheless, companys cost of goods sold rose 18.3% to US$552.21 million from US$466.62 million. Operating expenses increased 30.8% to US$59.43 million from US$45.41 million in 1Q/2010 that led to lower operating income by 41.7% to US$32.46 million from US$55.71 million. (T05/NOM)

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