Oct 29, 2010

Astra Agro reports lower net profit

CPO player PT Astra Agro Lestari Tbk (AALI), subsidiary of PT Astra International Tbk (ASII), experienced a 1.59% decrease in net profit during the first 9 months of this year.
Net profit reached Rp1.22 trillion in 9M 2010 from Rp1.24 trillion a year earlier on the back of higher cost than revenue growth.
A 4.72% increase in Astra Agro's revenue from Rp5.46 trillion in 9M 2009 to Rp5.72 trillion in 9M 2010 was unable to underpin income from operations as cost of goods sold inched up 9.38% from Rp3.2 trillion to Rp3.5 trillion in 9M 2010.
Astra Agro Lestari posted a slight decrease of 1.59% in earning per share from Rp792.54 to Rp779.91, while net margin lowered 6.03% from Rp22.84% to Rp21.46% in 9M 2010. 

Disclosure: No position at the stock mentioned above.

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