Slightly turnover, Profit Drops 54% XL fact to Rp 670 Billion

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PT XL Axiata Tbk (EXCL) correction suffers 54% profit in the first half of 2013 to Rp 670 billion from Rp 1.46 trillion. The company’s revenue edged up 1%.

XL recorded net income of Rp 10.3 trillion in the first half of this year, from Rp 10.2 trillion in the previous position. The rise in revenue driven by increased data service revenues by 13%.

“Our performance this quarter marks our success to turn things around after a decline in the previous two quarters,” said President Director of XL Hasnul Suhaimi, in a press release on Thursday (01/08/2013).

Until the end of the first half of 2013, the XL has spent Rp 4 trillion for infrastructure investment in the data. A combination of internal funds and debt.

XL has signed a new loan agreement in U.S. dollars with Standard Chartered Bank in May 2013 for U.S. $ 50 million. Meanwhile, during the first half of this 2013 also, the amount of debt XL increased to Rp 17.1 trillion from Rp 12.7 trillion in the previous year.

“XL will remain focused on data services given the growing use of data rapidly increasing contribution to company revenues. During the first six months of this year, data revenue accounted for 22% of total revenue, compared to 19% last year, “he added.

OPEC Oil Production Down in June

OPEC oil exporting production declined in June, and its share in global oil supply is expected to fall in the next two years due to rising non-OPEC oil supply in the next few years.
“Total OPEC crude oil production an average of 30.38 million barrels per day in June, a decline of 0.31 million barrels per day compared to the previous month,” Organization of Petroleum Exporting Countries is headquartered in Vienna said in its monthly report on Wednesday.
Statistics show that the decline was driven by a reduction in Libyan production, which production fell 206,000 barrels per day in June, contributing nearly 70 percent of the decline in total production, while Saudi Arabia continues to increase its production in the last two months.
Non-OPEC supply growth is expected to be the most dynamic of crude oil production in 2013 and 2014, is projected to average 53.92 million barrels per day in 2013 and 55.06 million barrels per day in 2014, according to the report.
Strong growth trend from supply-led by U.S. crude oil production, growth should be the highest among the non-OPEC countries in 2013 and 2014, and production is expected to average 11.33 million barrels per day in 2014 in a report .
Due to growth in the supply of non-OPEC crude oil and weak world oil demand, OPEC will likely see lower market share in the world oil market in 2013 and 2014, which is estimated to be 33.8 percent in 2013.

EU industrial production fell in May.

Industrial production in the recession-hit eurozone fell 0.3 percent in May compared with the previous month, the data agency Eurostat reported Friday, after three consecutive monthly increases.

April industrial production rose 0.5 percent in the bloc’s 17 states, the agency said in a revised figures, compared to March when the rate increased 0.9 percent, AFP reported.

Numbers in April and March which is a great improvement on the performance in the previous months, and analysts said the latest report showed euro zone recession is already running 18 months may soon end.

May decrease was primarily due to the weakening 2.3 percent in the consumption of durable goods, while capital goods declined 1.5 percent.

On the positive side, energy production rose 0.1 percent, intermediate goods rose 0.4 percent and non-durable consumer goods rose 0.6 percent.

Decline in industrial output is highest in Ireland, which saw a decrease of 2.7 percent and in Greece with a 2.1 percent decline.

Output rose 6.1 percent on the other side of the recession plagued Portugal and 2.0 percent in Estonia. While in the 27 European Union countries, industrial output fell 0.6 percent in May compared to April.

Compared with the previous year’s data, industrial production fell 1.3 percent in the eurozone and 1.6 percent in the EU.