PT Mitrabahtera Segara Sejati, Tbk reported unaudited earnings results for the first quarter ended March 31, 2016. For the quarter, revenues were $18.3 million against $26.2 million for the same period prior year, a decrease of 30.0%. Gross profit was $3.0 million against $8.2 million for the same period prior year, a decrease of 62.9%.

Operating income was $0.2 million against $5.9 million for the same period prior year, a decrease of 95.8%. Loss before tax was $0.5 million against income before tax of $4.8 million for the same period prior year, a decrease of 111.4%. Loss for the period was $0.7 million against profit for the period of $4.5 million for the same period prior year, a decrease of 117.1%.

Loss attributable to equity holders of the parent was $1.3 million against profit attributable to equity holders of the parent of $4.0 million for the same period prior year, a decrease of 146.0%. EBITDA was $6.1 million against $11.8 million for the same period prior year, a decrease of -47.9%.