Paper tube, paper core, and honey comb producer PT Alkindo Naratama Tbk (ALDO) today reported a 735.28 jump in net profit on the back of strong operating profit.
In the financial statement submitted to Indonesia Stock Exchange today, Alkindo booked Rp3.49 billion net profit in 1H 2011 from Rp418.59 million in 1H 2010.
Operating profit rose 171.48% to Rp6.95 billion from Rp2.56 billion. Alkindo's gross profit increased 64.12% to Rp14.41 billion from Rp8.78 billion. Alkindo reported a 12.82% increase in net sales to Rp91.86 billion from Rp81.42 billion.Alkindo just listed new shares at the stock exchange at Rp225 per share, entitling the company with Rp33 billion proceed.
Disclosure: No position at the stock mentioned above.
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