Feb 24, 2011

Astra Agro FY10 margins slightly fall

Despite rising bottom line, palm oil producer PT Astra Agro Lestari Tbk (AALI) in fact has suffered drop in both operating and gross margin last year.
In a consolidated financial statement submitted to Indonesia Stock Exchange (IDX) today, Astra Agro posted Rp2.01 trillion net income or Rp1,280.70 per share last year, a 21.69% increase from Rp1.66 trillion or Rp1,054.55 per share in the previous year.
Operating profit rose 14.56% to Rp2.99 trillion from Rp2.61 trillion. However, operating margin slightly declined to 33.82% from 35.18% as higer cost of goods sales (COGS) and operating expenses.
Astra Agro's operating expenses enlarged 24.22% to Rp610.64 billion from Rp491.57 billion, while COGS increased 21.06% to Rp5.23 trillion from Rp4.32 trillion.
However, the company enabled to lift up its gross margin by 16.45% to Rp3.61 trillion from Rp3.10 trillion. But, its gross margin fell to 40.84% from 41.78%. Net sales grew 19.14% to Rp8.84 trillion from Rp7.42 trillion.

Disclosure: No position at the stock mentioned above.

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