Noodle and rice producer PT Tiga Pilar Sejahtera Food Tbk today reported a 299.83% jump in net profit on the back of strong growth in net sales in the first quarter of this year (1Q 2011).
Net profit steeply jumped to Rp23.15 billion or Rp13.84 per share in 1Q 2011 from Rp5.79 billion or Rp3.46 per share in 1Q 2010.
It is true that Tiga Pilar's operating profit rose 141.41% to Rp62.26 billion from Rp25.79 billion. However, operating margin fell to 17.05% from 20.99% as a steep increase in operating expenses to Rp22.90 billion from Rp9.94 billion.
Net sales roared 197.31% to Rp365.21 billion from Rp122.84 billion.
Disclosure: No position at the stock mentioned above.
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