PT Bumi Resources Tbk (BUMI) posted a loss attributable to owners of the parent company throughout 2020, amounting to US$339,023 million. In the previous year, the company managed to score a profit of US $ 6,840 million.

Based on the financial report published on Tuesday (18/5), the loss was triggered by the low income of around 28.98 percent, from US$1.112 billion to US$790,436 million.

Nevertheless, BUMI succeeded in reducing the rate of cost of revenue by 30.66% or from US$1.007 billion to US$698.521 million.

Expenses on net income of associates and joint ventures also decreased by around 53.41% to US$46.854 million from US$100.574 million.

Meanwhile, interest and financial expenses increased by 51.07% to US$222.509 million from US$147.287 million.

However, BUMI was able to increase interest income by around 21.26% to US$4.265 million from US$3.517 million. BUMI has also succeeded in converting a foreign exchange loss in 2019 of U