Apr 26, 2011

Astra Agro1Q net income jumps 140%

Palm oil producer PT Astra Agro Lestari Tbk (AALI), a subsidiary controlled by PT Astra International Tbk (ASII), today reported a shiny first quarterly performance. The company's net income jumped 140.04% in 1Q 2011 as a result of robust growth in net sales.
Astra Agro's net income reached Rp682.23 billion or Rp415.33 per share in 1Q 2011 from Rp284.21 billion or Rp172.71 per share in 1Q 2010.
Operating profit soared 110.41% to Rp918.79 billion from Rp436.67 billion, while gross profit surged 91.69% to Rp1.08 trillion from Rp561.37 billion as well.
Astra Agro booked Rp2.76 trillion in net sales, a 69.32% increase from Rp1.63 trillion. The sales to PT Wilmar Nabati Indonesia reached 22.11% of Astra Agro net sales, while PT Smart Tbk and PT Sari Dumai Sejati contributed 8.30% and 5.09.
Immature area
Astra Agro's total planted area reached 263,608 hectares in 1Q 201 from 264,792 hectares in 1Q 2010
immature area of the company decreased to 43,026 hectares or 16.32% of the total planted area at end of March this year (1Q 2011) from 56,903 hectares or 21.49% of the total planted area a year earlier.
Mature area of Astra Agro increased to 220,582 hectares or 83.67% of the total planted area from 207,889 hectares or 78,51%.

Disclosure: No position at the stock mentioned above.  

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