Jul 24, 2010

Mandom 1H earning drops 15.8%

PT Mandom Indonesia Tbk (TCID) has suffered a 15.8% drop in net profit in the first half this year from Rp81.6 billion to Rp68.7 billion on the back of soaring price of alcohol as well as rupiah strengthening against US dollar.  Earning per share slumped from Rp406 to Rp342.
Mandom posted flat sales in 1H 2010 from the same period of last year of Rp726.34 billion. The company has targeted to jack up sales by 10% to Rp1.5 trillion this year. Operating profit fell 24.68% from Rp119.9 billion in 1H 2009 to Rp90.3 billion in 1H 2010.

Disclosure: No position at the stock mentioned above.

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