LSIP London Sumatera Tbk

London Sumatera's Net Profit Tumbles 40.73%

Wednesday, 12 August 2009 12:07:29
StockWatch (Jakarta) - Plantation company PT PP London Sumatera Indonesia Tbk (LSIP) and its subsidiaries recorded net profit of IDR286.701 billion (IDR214 per share) in the first half of 2009, falling 40.73% from IDR483.737 billion (IDR354 per share) in the first half of 2008.

London Sumatera's financial report issued today (Wednesday 12/8) shows that the net profit fall was triggered by sales that stumbled 27.74% to IDR1.446 trillion from IDR2.001 trillion, because sales volume and crude palm oil (CPO) selling price were down.

Operating profit stepped down 43% at IDR398.081 billion from IDR697.459 billion, while other revenues stumbled at IDR7.928 billion from IDR8.177 billion as interest and financial expenses stepped up 30.1% to IDR25.518 billion. (yan/bd)