Indonesia's largest pharmaceutical company PT Kalbe Farma Tbk (KLBF) announced a 23.3% increase in net profit in the first quarter of 2011 because of increase in income before tax and lowered tax expense.
The company posted Rp316 billion net profit in 1Q 2011 from Rp256 billion in 1Q 2010. Earning per share rose 23.2% to Rp34 from Rp27.
"Kalbe has been consisten in implementing its strategies to improve production cost productivity and marketing expense effectiveness," said Kalbe Finance Director Vidjongtius said in a press statement obtained by Insider Stories today. Operating profit increased 7.9% to Rp417 billion from Rp387 billion, sending Kalbe's operating margin stayed at a stable level of 17.7%. Net profit also grew 7.5% to Rp2.35 trillion from Rp2.19 trillion.
Prescription division posted Rp605 billion in sales, contributing a 28.5% to Kalbe's consolidated net sales. Consumer health division booked Rp428 billion in sales, contributed 18.2% to the company's consolidated net sales.
Nutritionals division posted Rp449 billion in sales, counted 22.9% of Kalbe's net sales. Logistic and distribution contributed 30.4% of the company's net sales.
Disclosure: No position at the stock mentioned above.
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