Truba Q1 loss Rp148 billion

EPC contractor PT Truba Alam Manunggal Engineering (TRUB) Tbk reported net loss of Rp148 billion in the first quarter 2009 on poor margin and forex translation loss.

TRUB actually posted strong sales revenue growth of 43% in the period. But higher costs cut its operating profit by 66% to Rp48 billion only. Combined with higher financial expenses and translation loss, the company then reported loss before tax of Rp177 billion against PBT of Rp227 billion in Q1 2008.

TRUB stock price surged 300% since early April to reach its peak at Rp205 a month ago before retreated to Rp169 today. Truba reported net loss of Rp180 billion last year against net profit of Rp212 billion in 2007. (TH/YA)

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