Jun 4, 2011

Indomobil reports 14.71% rise in profit

PT Indomobil Sukses Internasional Tbk (IMAS), distributor of several brands such as Suzuki, Nissan, and Volvo, reported a 14.71% increase in net profit in the first 3 months of this year on the back of net sales growth.
Indomobil booked Rp155.06 billion net profit or Rp150 of earning per share in 1Q 2011 from Rp135.18 billion or Rp136 of earning per share in 1Q 2010.
Indomobil, which is controlled by Salim Group, posted Rp255.82 billion operating profit, a 28.22% increase from Rp199.51 billion. Net sales grew 41% to Rp3.37 trillion from Rp2.39 trillion.
PT Cipta Sarana Duta Perkasa and PT Tritunggal Intipermata control 69.80% and 23.61% shareholding in Indomobil and public shareholders own 6.59% stake.

Disclosure: No position at the stock mentioned above.

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