Nov 24, 2010

Lautan Luas 9M revenue up 22%

Distributor and manufacturer of basic and specialy chemicals PT Lautan Luas Tbk (LTLS) posted a 22% increase in revenue to US$301 million during the first 9 months ended September 30 2010 from US$248 million.
In an investor newsletter from Lautan Luas, the company also saw a steady growth 4% year on year in gross profit margin to IDR410 billion from IDR393 billlion despire of appreciation of rupiah as a result of increasing in sales volume.
The company experienced an increase in its operating expenses as a result of increase in sales volume.
In return, operating income decreased to Rp90 billion from Rp102 billion. However, the company managed to maintain other operating expenses at the stable level. Net income fell 13% to Rp53 billion from Rp61 billion, sending a flat net margin at 2%. 

Disclosure: No position at the stock mentioned above.

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