JAKARTA (Yosefardi) – State miner PT Aneka Tambang (Antam) Tbk (ANTM) suffered loss of Rp272.6 billion in first quarter of this year, compared to profit Rp407.66 billion in the same period of last year.
Sales declined 31% to Rp2.3 trillion from previous Rp3.34 trillion, mostly due as a consequence of the government’s policy to ban ore export coupled with continued low average selling prices.
Cost of goods sold fell 15.5% to Rp2.26 trillion from earlier Rp2.67 trillion.
The company also recorded operating expenses of Rp140.02 billion, then it suffered operating loss of Rp95.72 billion.
In addition, Antam recorded other expenses of Rp208.46 billion, of which share of loss of associates and jointly controlled entity accounted for Rp123.27 billion.
Antam’s assets totaled Rp21.45 trillion while liability amounted Rp9.03 trillion. It has cash and cash equivalent of Rp2.75 trillion.