Dian Swastatika Turns to Loss in First Half

JAKARTA (Yosefardi) – PT Dian Swastatika Sentosa (DSSA) Tbk, unit of Sinarmas Group, booked net loss of US$158,500 in the first half ended June 30, 2013, flipped from a net profit of US$12.08 million in the same period of 2012.
The energy & infrastructure company generated sales revenue of US$300 million, down 7% from the first half of 2012, while gross profit declined to US$55.75 million.
Dian Swastatika, controlling shareholder of coal producer PT Golden Energy Mines (GEMS) Tbk, also suffered from 39% jump in general & administrative expenses, cutting down its operating profit to US$5.2 million from US$17.75 million in the first half of 2012.
As at June 30, 2012, Dian Swastatika had total assets and equity of US$1.2 billion and US$899 million respectively.