Jul 24, 2011

AKR Corporindo 1H profit soars 1,297%

Indonesia’s leading bulk logistics and distributor of petroleum and basic chemical distributor PT AKR Corporindo Tbk (AKRA) reported a 1,291.79% jump in net profit in the first half of this year as it posted gain from sale of its subsidiary.
AKR Corporindo booked Rp1.17 trillion net profit in 1H 2011 or Rp515.32 earning per share from Rp83.61 billion or Rp38.30 earning per share in 1H 2010.
AKR gained Rp1.68 trillion from the sale of Sorini. Operating profit increased 25.52% to Rp258.09 billion from Rp205.61 billion. Sales and revenue rose 73.56% to Rp9.06 trillion from Rp5.22 trillion.   

Disclosure: No position at the stock mentioned above.

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