According to the company`s financial report released here on Friday, the corporate losses were caused by the ballooning of the company`s expenses.
Actually, until June 2011, the company was able to increase its income to 11.22 trillion rupiah or by 44.59 percent compared with last year`s figure of 7.76 trillion rupiah.
At the same time, however, corporate expenses rose to 11.56 trillion rupiah or by 40.57 percent compared with the previous year`s 8.22 trillion rupiah, causing the company to suffer losses.
The largest expenses of the national flag carrier during the first semester this year dealing with the operational post, soaring from 3.84 trillion rupiah to 6.32 trillion rupiah, then ticket sales and promotional expenses that reached 1.07 trillion rupiah, the report said.
In addition, Garuda listed shares (IPO) at the Indonesia Stock Exchange ((BEI) on February 11, 2011 with initial price of 750 rupiah per share, and the number of shares released amounting 6.335 billion shares.
Meanwhile, the company`s net profit per share for June 2011 was recorded negative 8.27 rupiah per share, much lower than the profit per share of June 2011 period that reached 6,105 per sheet.
Total of Garuda`s asset until the 2011 first semester was recorded 17.44 trillion rupiah, rose compared with the 2010 first semester reaching 13.67 trillion rupiah.
In the meantime, Garuda`s total debt up to June 2011 reached
10.87 trillion rupiah, consisting of short-term debt 5.69 trillion rupiah, and the long-term debt 5.18 trillion rupiah.
In addition, the total amount of equity rose from 3.46 trillion to 6.57 trillion rupiah.
(Uu.R017/B003/HAJM/A014)
Editor: Priyambodo RH
Copyright © ANTARA 2011
