JAKARTA: PT Bakrie and Brothers Tbk, an investment company, suffer losses of IDR281.41 billion in the first quarter this year, reversed its net profit of IDR104.09 billion at the same period last year due to declining of its revenue.
The company booked IDR2.82 billion in revenue in the first quarter or decreased 0.02%. The company also faced cost of goods sold rising by 7.99% to IDR1.96 trillion and higher of operating expenses by 4.73% to IDR 808.29 billion.Therefore, its operating profit fell almost five times to IDR55.43 billion.The asset of the company increased 10.29% to IDR35.04 trillion, whilst its liabilities rose 13.62% to IDR20.59 trillion.The BNBR-coded stock slid IDR2 or 2.60% to IDR75 at the Jakarta Stock Exchange as of 3.51 p.m. local time. (msw)
