Mar 1, 2011

Davomas FY10 net sales jumps 296.69%

Cocoa butter and powder producer PT Davomas Abadi Tbk (DAVO) today reported a 296.69% jump in net sales last year.
In a financial statement submitted to Indonesia Stock Exchange (IDX) today, Davomas posted Rp1.61 trillion net sales last year from Rp406.06 billion.
However, gross margin slashed 53.12% to Rp305.78 billion from Rp652.27 billion as higher cost of goods sold.
Davomas booked operating profit of Rp86.64 billion, a 108.19% jump from operating loss of Rp1.06 trillion. The company's net loss also narrowed 88.32% to Rp26.49 billion from Rp226.75 billion.

Disclosure: No position at the stock mentioned above.  

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