Aug 1, 2011

J.A. Wattie 1H net profit skyrockets 121%

Diversified plantation company PT J.A. Wattie Tbk (JAWA) today reported a 121.26% jump in net profit for the first 6 months of this year, in line with the higher revenue.
J.A. Wattie booked Rp115.83 billion in net profit in 1H 2011 from Rp52.35 billion in 1H 2010, mostly underpinned by foreign exchange gain of Rp2.93 billion.
Operating profit surged 96.67% to Rp154.90 billion from Rp78.76 billion, driving its margin to 89.05% from 84.48%. The company's net sales increased 65.06% to Rp333.85 billion from Rp202.26 billion.
Jaya Agra is owned by several shareholders such as Soedarjo, Hadi Surya, and few others. Hadi Surya is owner and President Commissioner of PT Berlian Laju Tanker Tbk (BLTA). He has been serving as Berlian Tanker since 2000.
Currently the company manages and control 15 plantations accross Java and Kalimantan.
With the increasing growth of the company, Jaya Agra Wattie seeks continuously to add to it’s existing land size by obtaining new land areas or by acquiring existing plantation.
The company targets to continuously expand its size to 60,000 hectares in the near future. J.A. Wattie plantations are operated throught subsidiaries either by foreign or domestic investment companies.

Disclosure: No position at the stock mentioned above.

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