BAT Indonesia’s H1 net loss surges 263%

Cigarette manufacturer PT BAT Indonesia suffered a net loss of Rp49.884 billion in the first half of this year, rising by 263% from Rp13.726 billion last year, StockWatch reported on Friday.

BAT Indonesia's net loss during that period was - among others - because of operating expenses that climbed 13.39% to Rp137.108 billion from Rp120.915 billion, which caused operating losses to increase sharply to Rp50.866 billion from Rp23.081 billion.

In 2007 and 2008, the company suffered losses of Rp34.218 billion and Rp86.621 billion each, as other cigarette manufacturers booked profits.

The company's sales dropped 19.07% at Rp216.323 billion in the first half of 2009 from Rp267.303 billion in the same period in 2008.