Apr 27, 2011

United Tractors 1Q net income up 39.94%

PT United Tractors Tbk (UNTR), Komatsu heavy equipment distributor and coal mining contractor, posted a 39.94% increase in net income at end of March this year on the back of higher net revenue.
The company recorded Rp1.27 trillion net income or Rp390 per share in 1Q 2011 from Rp905.54 billion or Rp273 per share a year earlier. In line with higher net income, operating profit rose 30.77% to Rp1.70 trillion from Rp1.30 trillion.
Gross profit increased 37.65% to Rp2.23 trillion from Rp1.62 trillion. United Tractors's net revenue grew 45.07% to Rp12.65 trillion from Rp8.72 trillion.
The biggest contributor for the company's consolidation revenue was contruction machinery with Rp6.77 trillion, mining contractor with Rp4.48 trillion, and coal mining with Rp1.33 trillion.
PT Astra International Tbk controls 59.50% shareholding in United Tractors and the remaining is owned by public shareholders. 

Disclosure: No position at the stock mentioned above.

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