Feb 10, 2010

Latinusa profit beats early estimation

Tin plate maker PT Latinusa Tbk (NIKL) posted Rp41 billion in 2009 net profit, better than early estimation of Rp31 billion.
Latinusa President Director Ardhiman said the company's sales increase underpinned its net profit last year. Sales volume in 2009 was 90,000 tons of tin plate.
"If we calculate, revenue last year was Rp1.2 trillion, a slightly down compared to the previous year due to financial crisis," he said today.
Latinusa, that is 55% controlled by Japanese steel maker Nippon Steel, reached Rp1.5 trillion in revenue in 2008. The company has set revenue and net profit this year of Rp1.5 trillion and Rp91 billion respectively. Adding to that, the company's sales volume is set to rise 30% to 120,000 tons this year.
As of January 2010, Latinusa booked Rp117,38 billion in sales with Rp8.9 billion in net profit, while production and sales volume reached 10,479 tons and 9,496 tons respectively.

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