Mar 17, 2011

PTPP FY10 net income increases 23.51%

The state-owned contractor PT Pembangunan Perumahan Tbk (PTPP) today reported a 23.51% increase in net income last year as operating revenue rose 4.76%.
In a financial statement submitted to Indonesia Stock Exchange (IDX) today, Pembangunan Perumahan posted Rp201.65 billion net income last year from Rp163.26 billion in the previous year. 
Operating profit slightly increased 6.61% to Rp392.19 billion from Rp367.89 billion, sending its operating margin to 8.91% from 8.75%.
Gross profit augmented 22.03% to Rp417.99 billion from Rp342.54 billion. Operating revenue slightly inched up 4.76% to Rp4.40 trillion from Rp4.20 trillion.
The biggest contributor for operating revenue was construction services with Rp4.29 trillion, while property and realty businesses contributed Rp38.05 billion and Rp75.59 billion respectively.
Indonesian government controls 51% stake in Pembangunan Perumahan, Koperasi Karyawan owns 27.51%, and public shareholders hold the remaining.

Disclosure: No position at the stock mentioned above.

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