Jul 27, 2010

Latinusa 1H earning soars 480%

Tin plate maker PT Pelat Timah Nusantara Tbk (Latinusa) today announces a 480.67% jump in net profit in the first half 2010.
A soaring earning was mainly underpinned by strong net sales as well as lowering foreign exchange loss.
In an announcement today, Latinusa posted Rp55.28 billion of net profit or Rp22 per share in 1H 2010 compared to the same period last year of Rp9.52 billion or Rp9 per share.
Latinusa's forex loss steeply fell from Rp7.39 billion in 1H 2009 to Rp1.31 billion in 1H 2010. Operating profit jumped 167.67% from Rp28.02 billion in 1H 2009 to Rp75 billion in 1H 2010. 
Latinusa's net sales grew 21.29% from Rp596.03 billion in 1H 2009 to Rp722.93 billion in 1H 2010.

Disclosure: No position at the stock mentioned above.  

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