Nov 3, 2010

Sepatu Bata 9M earning rises 27.41%

Publicly listed shoe maker PT Sepatu Bata Tbk (BATA) today announces a 27.41% increase in net income during the first 9 months ended September 30 2010 as a result of a slight advanced of net sales as well as an attempt to reduce cost of goods sold.
In the financial statement submitted to Indonesia Stock Exchange (IDX) today, Sepatu Bata posted Rp49.50 billion net income or Rp3,808 per share in 9M 2010 from Rp38.85 billion or Rp2,988 per share in 9M 2009.
In line with the bottom line increase, the company's operating profit made a 18.71% growth from Rp58.62 billion in 9M 2009 to Rp69.59 billion in 9M 2010.
Gross profit inched up 10.17% from Rp214.06 billion in 9M 2009 to Rp235.84 billion in 9M 2010.
The company's cost of goods sold shrank 0.19% from Rp258.33 billion in 9M 2009 to Rp257.83 billion.
Net sales slightly rose 4.5% from Rp472.39 billion in 9M 2009 to Rp493.67 billion in 9M 2010.
Domestic sales remained the main contributor for the consolidated net sales of Sepatu Bata, counting 96.6% or Rp476.83 billion. The export sales contributed Rp16.84 billion for the total net sales. 

Disclosure: No position at the stock mentioned above.  

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