Feb 24, 2011

Astra Otoparts FY10 net income soars

Automotive spare part maker PT Astra Otoparts Tbk (AUTO), majority owned by PT Astra International Tbk (ASII), today reported a 48.54% increase in net income last year as revenue rose 18.78%.
In a consolidated financial statement published today, Astra Otoparts posted Rp1.14 trillion net income or Rp1,480 per share last year from Rp768.27 billion or Rp996 per share in the previous year.
AUTO also obtained income from several associated companies and jointly controlled entities of Rp761.16 billion from Rp509.77 billion. 
Operating profit also rose 36.46% to Rp573.12 billion from Rp419.99 billion, reflecting a higher operating margin to 9.16% from 7.97%. Adding to that, gross profit also climbed 21.50% to Rp1.15 trillion from Rp948.62 billion. AUTO's net revenue advanced 18.78% to Rp6.26 trillion from Rp5.27 trillion.

Disclosure: No position at the stock mentioned above. 

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