Bumi Resources Posts $666.2 Million Net Loss on Low Coal Prices

Bloomberg reported that Bumi Resources announced a $666.2 million net loss for 2012, blaming lower coal prices.

As quoted in the market report:

Bumi posted a net loss of $666.2 million compared with net income of $216.3 million in 2011, it said in a statement published in the SuaraPembaruan newspaper today. That missed the median loss estimate of $238 million in a Bloomberg News survey of seven analysts.

To view the whole Bloomberg report, click here.