Garuda posts net profit of US$809 thousand for 2018

Garuda posts net profit of US$809 thousand for 2018

Jakarta (ANTARA) - National flag carrier Garuda Indonesia posted a net profit of US$809.85 thousand last year, after suffering a loss of $216.5 million the previous year.

According to Garuda Indonesia Finance and Risk Management Director Fuad Rizal, the net profit can be attributed to the efforts of the owners of the parent entity. He was speaking during a public meeting at the Indonesia Stock Exchange (BEI) in Jakarta on Tuesday.

Garuda Indonesia's earning per share (EPS) in 2018 was $0.00003, up from minus $0.00837 the previous year.

For all of 2018, the airline company recorded a total operating income of $4.3 million, up 4.88 percent from $4.1 million a year ago.

Its total assets rose 16.22 percent to $4.37 billion in 2018, from $3.76 billion in 2017. However, its total debts also increased to $3.46 billion in 2018 from $2.83 billion in 2017.

Meanwhile, its equities were recorded at $910 million in 2018, down from $937.47 million in 2017, and its cash value at the end of 2018 fell to $251.18 million from $305.72 million the previous year. EDITED BY INE