May 31, 2011

Chandra Asri 1Q revenue rises 10.48%

Indonesia’s largest petrochemical producer, PT Chandra Asri Petrochemical Tbk, posted a 10.48% increase in revenue during the first quarter of 2011, which derives from domestic sales.
Chandra Asri booked US$547.28 million revenue in 1Q 2011 from US$495.35 million. The sales of polyolefin products such as polyethylene and polypropylene contributes most of the revenue, which reached 53% of the total sales, Chandra Asri’s Corporate Secretary Suryandi
“This first quarter report is the first financial report made after merger with PT Tri Polyta Indonesia Tbk early this year,” he said in an official statement yesterday.
The company’s total assets reached US$1.5 billion in 1Q 2011 with total EBITDA of US$51.9 million and US$23.6 million net profit, a 9.15% increase from US$21.65 million in 1Q 2010. Meanwhile, capacity utilization rate of those two petrochemical products reached more than 95%.
“The company’s revenue performance in first quarter shows consistency in business growth after merger. Such consistency will be continuously maintained,” he said.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: