Mar 18, 2011

Trikomsel FY10 net income jumps 73.7%

Mobile phones distributor  PT Trikomsel Oke Tbk (TRIO) recorded Rp204.39 billion net income last year, a 73.7% jump from Rp117.69 billion in the previous year.
In a press statement filed to Indonesia Stock Exchange (IDX) today, the net income increase was underpinned by higher margin.
Trikomsel's EBITDA rose 37.9% to Rp387.72 billion from Rp281.19 billion.
Operating profit increased to Rp410.18 billion from Rp275.29 billion, while gross profit also surged to Rp709.08 billion from Rp564.30 billion.
Trikomsel's gross margin augmented to 12.9% from 10.3% and operating margin increased to 7.4% from 5%.
The surge in mobile phone sales contributed higher gross margin. Trikomsel recorded Rp4.65 trillion mobile phone sales, a 13.9% increase from Rp4.08 trillion.
In return, the company's total sales slightly increased 0.92% to Rp5.51 trillion from Rp5.46 trillion.
Director Juliana Samudro in the statement said the success of focusing strategy to jack up margin, outlets' arrangement, as well as better cost management have improved net income.
"Synergies and better support with cellular operators and financial institutions have positively contributed to our business development," she said.

Disclosure: No position at the stock mentioned above.

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