Oct 27, 2010

Latinusa 9M net profit surges136.81%

Tin plate maker PT Pelat Timah Nusantara Tbk (Latinusa) experiences a steep jump in earning during the first 9 months this year. Thanks to higher net sales and shrinking foreign exchange loss.
In the financial report submitted to Indonesia Stock Exchange (IDX) today, Latinusa posted Rp71.47 billion net profit in 9M 2010, a 136.81% jump from Rp30.18 billion in 9M 2009.
The company's forex loss steeply shrank 83.14% from Rp6.17 billion in 9M 2009 to Rp1.04 billion in 9M 2010.
At the operational line, Latinusa experienced a 98.64% jump in operating profit from Rp47.74 billion in 9M 2009 to Rp94.83 billion in 9M 2010, resulting higher operating margin from 5.36% to 8.9% in 9M 2010.
Latinusa booked Rp176.65 billion gross profit, a 65.45% rise from Rp106.77 billion in 9M 2009.
Cost of goods sold elevated 13.47% from Rp783.28 billion to Rp888.80 billion in 9M 2010. Net sales remained robust at 19.71% growth from Rp890.05 billion in 9M 2009 to Rp1.06 trillion in 9M 2010. All sales came from the local market of 83,464 tons tin plate worth IDR1.07 trillion.

Disclosure: No position at the stock mentioned above.

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