Mar 28, 2011

Elang Mahkota FY10 net income surges

PT Elang Mahkota Teknologi Tbk (Emtek), parent company of PT Surya Citra Media Tbk (SCMA), reported a 165.33% jump in net income last year as revenue reached a higher level than in the previous year.
In an official financial statement submitted to Indonesia Stock Exchange (IDX) today, net income rose to Rp429.19 billion from Rp161.76 billion.
Income from operations increased 62.37% to Rp799.44 billion from Rp492.36 billion. Emtek posted Rp1.33 trillion, a 29.13% rise from Rp1.03 trillion. Revenue grew 18.37% to Rp3.35 trillion from Rp2.83 trillion.
Two biggest contributors to the company's consolidated revenue were net advertising and sale of goods.  
Net advertising contributed Rp1.97 trillion to the consolidated revenue and sale of goods contributed Rp1.07 trillion.
The Northern Trust Company S/A owned 31.68% shareholding in Elang Mahkota, Eddy Kusnadi Sariaatmadja owns 20.75% stake, Susanto Suwarto holds 13.81%, Piet Yaury owns 11.61%, Fofo Sariaatmadja controls 5.81%, and public shareholders hold 10%.

Disclosure: No position at the stock mentioned above.

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