Jul 2, 2011

Hexindo FY10 net income up 26.68%

PT Hexindo Adi Perkasa (HEXA), distributor of Hitachi heavy equipment, John Deere construction equipment, and Rotobec, reported a 26.68% increase in net income in 2010 ended March 21 2011 as net revenue rose 46.14%.
Hexindo, in an official financial statement published yesterday, posted US$43.11 million net income from US$34.03 million. Hexindo has changed its financial calender from January 1 to December 30 to April 1 to March 31.
Net revenue rose 46.14% to US$498.61 million from US$341.19 million. As a result, operating income increased 13.31% to US$55.49 million from US$48.97 million.
 
Disclosure: No position at the stock mentioned above.

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