Jan 28, 2011

Hexindo 3Q10 net income soars 42.22%

PT Hexindo Adi Perkasa (HEXA), distributor of Hitachi heavy equipment, John Deere construction equipment, and Rotobec today repored a 42.22% jump in net income in thirs quarter of 2010 (3Q10).
As mentioned in the financial statement filed to Indonesia Stock Exchange (IDX) today, Hexindo posted US$30.15 million net income in 3Q10 ended December 30 2010 from IDR21.20 million a year earlier as net revenue surged 56.49%.
Operating income also rose 20.77% to US$38.49 million in 3Q10 from US$29.66 million in 3Q09. However, operating expenses increased 23.86% to US$26.37 million from US$21.29 million.
As a result, Hexindo's operating margin slightly fell to 10.71% from 12.91%. Gross profit increased 27.30% to US$64.86 million from US$50.95 million. Hexindo Perkasa booked US$359.28 million net revenue in 3Q10, a 56.49% rise from US$229.58 million.

Disclosure: No position at the stock mentioned above.

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