Aug 10, 2010

Indomobil 1H profit jumps 157.58%

Publicly listed Suzuki car producer PT Indomobil Sukses Internasional Tbk (IMAS) reports a 157.58% jump in the first half earning as a result of intact growth of net revenue.
In the first half financial statement submitted to Indonesia Stock Exchange (IDX), Indomobil booked IDR209.28 billion net profit or IDR210 per share in the first half 2010 from a year earlier of IDR81.25 billio or IDR82 per share.
Operating profit of the company remained robust. It reached IDR94.88 billion in the first half 2010, a 143.59% rise compared to that at the same period last year of IDR38.95 billion.
Despite a 63.57% increase of cost of goods sold in the first half this year, from IDR2.69 trillion to IDR4.40 trillion, Indomobil's net revenue grew 59.16% from IDR3.11 trillion in the first half 2009 to IDR4.95 trillion. 
PT Cipta Sarana Duta Perkasa controls 72.63%, PT Tritunggal Inti Permata owns 20.47%, and others hold 6.90%.
 
Disclosure: No position at the stock mentioned above.  

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