Indosat Full-Year Profits Halved Due to One-Off Charges
Published on: 5th Mar 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
Indonesian mobile network PT Indosat has reported that its preliminary full year profits more than halved to IDR 417.4 billion (USD43 million) from IDR 879.7 billion a year ago.
The company cited financial charges as the reason for the 52.5% decline in profits but did not specify what those charges were.
Despite the fall in profits, revenues were up by 10.4% at IDR22.72 trillion and the customer base reached 58.5 million subscribers.
In the short financial statement, the company CEO said that he was pleases with the financial performance last year, but expects a more challenging year ahead.
Indosat's main shareholder is Ooredoo (formerly Qatar Telecom).