PT Petrosea Tbk. announced unaudited consolidated earnings results for the nine months ended September 30, 2016. For the nine months, the company’s revenues decreased by 9.59% year-over-year from USD 164.58 million to USD 148.80 million, mainly due to lower revenue from contract mining business (decrease of 34.93% year-over-year) from USD 118.17 million to USD 76.89 million as the result of lower overburden volumes. Operating profit was USD 7.30 million against USD 11.92 million a year ago. Loss attributable to owners of the company was USD 4.63 million against USD 1.35 million a year ago. The company recorded capital expenditure spent amounted to USD 5.32 million in the nine months of 2016, or declined from USD 21.19 million reported in the previous year. Capital expenditures spent were mainly used to revitalize equipment used in mining services.