Apr 25, 2011

Astra Graphia 1Q net income up 22.22%

IT and document solution company PT Astra Graphia Tbk (ASGR) today reported a 22.22% increase in unaudited net income at end of March 2011 as net sales improved.
Astra Graphia, controlled by auto maker PT Astra International Tbk (ASII), posted Rp22 billion net income in 1Q2011 from Rp18 billion a year earlier.
Operating profit slightly increased 8% to Rp27 billion from Rp25 billion. Gross profit also grew 9.89% to Rp100 billion from Rp91 billion.
Astra Graphia's net sales increased 7.88% to Rp315 billion from Rp292 billion. Short term loan narrowed to zero from Rp61.9 billion, while total liabilities reduced 4% to Rp332.6 billion from Rp494.1 billion. Astra International controls 76.87% shareholding in Astra Graphia and public holders own the remaining stake.

Disclosure: No position at the stock mentioned above.

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