Oct 29, 2010

Sampoerna Agro net profit surges 21.90%

CPO producer PT Sampoerna Agro Tbk (SGRO) posted IDR365.39 billion operating profit for the 9 months period ended September 30 2010, a 9.37% increase from Rp334.09 billion a year earlier.
Sampoerna Agro, in the financial report submitted to Indonesia Stock Exchange (IDX) today, reported despite the higher income from operations, it booked a lower operating margin, fell from 28.18% to 26.69% in 9M 2010.
Net profit rose 21.90% from Rp204.13 billion or Rp110 per share in 9 months 2009 to Rp248.84 billion or Rp132 per share.
In line with the growth, gross profit also increased 12.74% from Rp429.08 billion in 9M 2009 to Rp483.75 billion in 9M 2010.
Cost of goods sold surged 17% from Rp756.68 billion in 9M 2009 to Rp885.35 billion.
Sampoerna Agro's sales in 9M 2010 was 16.10% higher than 9M 2009's level of Rp1.18 trillion to Rp1.37 trillion. 

Disclosure: No position at the stock mentioned above.
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