Nov 12, 2009

Multistrada posts forex gain jump

PT Multistrada Arah Sarana Tbk, a publicly listed tire producer which is run by former founder of PT Trimegah Securities Tbk Peter Tanuri, posted net profit jump of 81.31% on its September 2009 financial report as a result of foreign exchange gain.
In a public statement today to Indonesia Stock Exchange, Multistrada booked September 2009's net profit of Rp124.07 billion from a year earlier of Rp68.87 billion.
The tire company's revenue rose by 19.20% from Rp1.05 trillion last year to Rp1.19 trillion at the end of September this year.
The company's operating income made less growth by 7.42% from Rp128.59 billion last year to Rp138.13 billion. Foreign exchange gain was significantly skyrocketed by 1,814.2% from merely Rp3.86 billion last year to the end of nine months this year of Rp73.89 billion.

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