Aug 15, 2010

Mayora 1H net profit rises 29.41%

Publicly listed PT Mayora Indah Tbk (MYOR) posted a 29.41% rise to Rp211.45 billion in net profit during the first half this year compared to that in the first half last year of Rp163.4 billion.
The increase was mainly underpinned by sales growth of 37.97% to Rp3.31 trillion at the end of June this year from a year earlier of Rp2.4 trillion.
Operating expenses slightly added by 7.35% from Rp51.91 billion to Rp55.73 billion, while interest expenses fell 16.76% from Rp65.93 billion to Rp54,87 billion.
The company's total assets rose 122.89% to Rp213.89 billion in the first half this year from a year earlier of Rp95.96 billion as a result of soaring cash by 66.14% to Rp19.01 billion in the first half of this year from Rp6.43 billion.
Mayora Director Ongkie Tedjasurya said net profit increase was underpinned by cost of production efficiency. 
"Net profit increased because our sales elevated, while cost of production was more efficient as a result of new production machines that run maximally," he said in a short message service to today.

Disclosure: No position at the stock mentioned above.

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