May 2, 2011

Tower Bersama 1Q profit soars 156%

One of Indonesia' largest operator of telecommunication tower PT Tower Bersama Infrastructure Tbk (TBIG) reported a 156.62% jump in net profit for the first quarter of this year as revenue surged.
Tower Bersama, which is nearly 50% stake controlled by two private equity companies Saratoga Capital and Provident Capital Indonesia, posted Rp118.15 billion net profit or Rp22.06 per share in 1Q 2011 from Rp46.04 billion or Rp12.19 per share.
The operator booked Rp157.66 billion, a 167.58% surge from Rp58.92 billion, reflecing a higher operating margin to 73.68% from 65.24%.
Revenue soared 136.95% to Rp213.99 billion from Rp90.31 billion.
Saratoga Capital, via its unit PT Saratoga Infrastruktur and PT Provident Capital Indonesia own 25.82% stake and 20.92% stake respectively in Tower Bersama. PT Wahana Anugerah Sejahtera holds 20.92% shareholding and public shareholders own 21.36% stake.

Disclosure: No position at the stock mentioned above.

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