PT Aneka Tambang Tbk (Antam) experienced a loss of Rp 496.12 billion in the first half of 2017, compared to a profit of Rp 11.03 billion in the same period of the previous year. A 27.7 percent decrease in sales to Rp 3.01 trillion from Rp 4.16 trillion in the first half of the year was a contributing factor.
Furthermore, an increase in losses from associated entities and joint ventures to Rp 162.28 billion, and a rise in financial expenses to Rp 304.17 billion, also contributed to the significant losses incurred by the state-owned mining company.
This is not the first time Antam has experienced losses. In 2014, the state-owned mining company also recorded a loss of Rp 743.53 billion, and even recorded a loss of Rp 1.44 trillion in 2015. These substantial losses resulted in Antam not distributing dividends to its shareholders for three consecutive years.
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