Apr 8, 2011

Mustika Ratu 2010 profit drops 10.88%

Cosmetic products maker PT Mustika Ratu Tbk (MRAT) experienced a 10.88% drop in operating profit last year as operating expenses rose.
In the financial statement submitted to Indonesia Stock Exchange (IDX) today, Mustika Ratu posted Rp37.03 billion operating profit last year from Rp41.55 billion in the previous year.
However, gross profit slightly increased 6.01% to Rp206.84 billion from Rp195.12 billion on the back of higher net sales of 6.88% to Rp369.37 billion from Rp345.58 billion.
Net income rose 16.18% to Rp24.42 billion from Rp21.02 billion as foreign exchange loss narrowed 88.59% to Rp1.31 billion from Rp11.48 billion.

Disclosure: No position at the stock mentioned above.  

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