Sep 28, 2010

Pan Brothers 1H profit rises 90.43%

Textile-based manufacturer PT Pan Brothers Tbk (PBRX) booked a 90.43% jump in net profit in the first half of this year on the back of lower net other charges.
In the financial statement publised today, Pan Brothers posted Rp12.74 billion net profit or Rp29 per share in the first half of this year from Rp6.69 billion or Rp15 per share net profit a year earlier.
The company enabled to shrink net other charges from Rp25.71 billion in the first half of last year to Rp6.54 billion in 1H 2010.
Operating profit dropped 33.57% from Rp32.47 billion in 1H 2009 to Rp21.57 billion in 1H 2010.
In line with the drop, it also suffered a 26.53% fall in net sales from Rp886.09 billion in 1H 2009 to Rp650.99 billion in 1H 2010.

Disclosure: No position at the stock mentioned above.

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