Apr 25, 2011

Pelangi Canindo FY10 net income drops

Can maker PT Pelangi Indah Canindo Tbk today reported a slight decrease of 4.74% in net income last year because net revenue lowered 3.43%.
Pelangi Indah, which was established in 1983, posted Rp12.06 billion net income or Rp21.22 per share last year from Rp12.66 billion or Rp22.27 per share a year earlier.
In line with net income decrease, the company's operating profit decreased 2.37% to Rp53.08 billion from Rp54.37 billion.
Gross profit also slightly shrank 8.35% to Rp80.47 billion from Rp87.80 billion. Net revenue retreated 3.43% to Rp586.32 billion from Rp607.17 billion.
Hammond Holdings Limited owns 76.16% shareholding in Pelangi Indah, PT Citrajaya Perkasamulia and PT Saranamulia Mahardhika hold 12.15% and 5.70%, and three individual shareholders namely Tjiptadi, Ko Dandy, and So Helen Susilowati hold 0.04%, 0.03%, and 0.01% respectively, while public holders own 5.91%.

Disclosure: No position at the stock mentioned above.

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