The heavy equipment solution provider, PT Intraco Penta Tbk (INTA) reported a 96.5% increase in net profit for the first 6 months of this year.
The company posted Rp61.3 billion in net profit in 1H 2011 from Rp31.2 billion in 1H 2010. "Based on the business sector, a steep rise in net profit was mainly generated by the revenue from mining sector [74%], while the rest was from various sectors," said President Director Petrus Halim at Intraco Penta, in a press statement today.
The robust growth of the mining sector has brought a boost in sales of heavy equipment, driving Intraco's operating profit. INTA heavy equipment sales for Volvo, Bobcat, SDLG, Mahindra, and Ingersoll Rand brand, reached 737 units or 120% increase from 335 units. Total sales in June coupled with orders on hand reached 1,175 units or over 90% of the 2011 target of 1,293 units. That number has even exceeded the total sales in 2010amounted to 835 units.
"Growth in sales of heavy equipment INTA has managed to increase operating income to Rp1.36 trillion from Rp868.8 billion, an increase of approximately 56.1%," he said.
INTA’s revenue is based on the contribution of subsidiaries respectively PT Intan Baruprana Finance of 3%, PT Terra Factor Indonesia (consolidated with PT Karya Lestari) of 8%, and PT Columbia Chrome Indonesia of 3%.
Disclosure: No position at the stock mentioned above.
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