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Bumitama's 2Q earnings sink 39% to $11 mil

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Bumitama's 2Q earnings sink 39% to $11 mil

Jude Chan Published on Fri, Aug 05, 2016 / 8:27 AM GMT+8

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SINGAPORE (Aug 5): Bumitama Agri’s earnings fell 39% to IDR 107.65 billion ($11.0 million) in the second quarter ended June 30, 2016, from IDR 176.57 billion a year ago, amid “challenging operating conditions”.

Revenue slipped 12.9% to IDR 1.38 trillion in 2Q16, down from IDR 1.58 trillion in the same quarter last year.

This was mainly due to lower production output in the quarter, Bumitama says in an SGX filing on Friday.

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