Jakarta, 4 May 2017
The Company has published its unaudited First Quarter Financials on 28 April 2017.
The Company has reported a net income of $88.05 million in Q1'17 compared with $22.48 million in Q1'16, or a four fold increase.
In FY'16, the Company turned around to a net income of $67.69 million.
The Company has reported its Q1’17 financials based on PSAK 66 of IAI on Joint Venture Agreements and, hence, excludes KPC and Arutmin. 51% KPC and 70% Arutmin stakes that Bumi holds is equity accounted.
However, for ease of understanding, the company also provides internal estimates of the full consolidated figures including full contribution from KPC and Arutmin for comparison.
Your attention is invited to para 40 (page 176 - 177) in notes to the Company's unaudited Q1'17 financials for detailed explanation and the estimated consolidated figures.
Q1'17 financial highlights on full consolidation basis (including 100% KPC & Arutmin) compared with Q1'16 are:
Prospects are bright for FY 17 and it is the Company’s objective to showcase its plans to the investment community, highlight the forward valuation potential and provide regular updates.