Publicly listed PT Modern Internasional Tbk posted a 109.17% jump in consolidated net earning as a result of income from assets sale, despite a lower net sales.
In the financial statement filed to Indonesia Stock Exchange (IDX) late last week, Modern Internasional booked Rp30.56 billion consolidated earning in the first 9 months of this year from Rp14.61 billion in 9M 2009.
The company gained 808.49% increase in income from assets sale from Rp3.06 billion in 9M 2009 to Rp27.80 billion in 9M 2010.
Income from operations slightly rose 7.26% from Rp27.14 billion in 9M 2009 to Rp29.11 billion. The company's operating margin also remained low at the level of 5.57% from 9M 2009's level of 4.93%.
Gross profit inched up 9.89% from Rp124.28 billion in 9M 2009 to Rp136.57 billion in 9M 2010, reflecting an increase in gross margin from 22.58% to 26.15% in 9M 2010.
Modern Internasional's net sales slightly lowered 5.11% from Rp550.39 billion in 9M 2009 to Rp522.28 billion in 9M 2010.
Disclosure: No position at the stock mentioned above.
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