Weekly Business
Industries
Krakatau Steel Net Loses Rp1.4 Trillion in 3rd quarter
State-owned Krakatau Steel recorded a net loss of US$117.4 million in the third quarter of 2014. In the same period last year, it lost just US$10.9 million.
These heavier losses were mainly the result of a 13.3-percent drop in company revenue in the first nine months of the year, to US$1.36 billion. CEO Irvan Hakim said the decreased revenue was due to a 12-percent fall in steel sales in the local market and a 64 percent drop in the hotel and real-estate business.
November 11, 2014
Industries
Krakatau Steel Net Loses Rp1.4 Trillion in 3rd quarter
State-owned Krakatau Steel recorded a net loss of US$117.4 million in the third quarter of 2014. In the same period last year, it lost just US$10.9 million.
These heavier losses were mainly the result of a 13.3-percent drop in company revenue in the first nine months of the year, to US$1.36 billion. CEO Irvan Hakim said the decreased revenue was due to a 12-percent fall in steel s
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