Aug 2, 2011

Radiant 1H net profit rises 81%

Oil and gas services company PT Radiant Utama Interinsco Tbk (RUIS) today reported a 81% increase in net profit to Rp11.9 billion in 1H 2011 from Rp6.6 billion in 1H 2010.
In an official statement published today, the profit increase was mainly due to higher revenue which increased 15% to Rp550.6 billion from Rp478.6 billion.
Thanks to operating support division and other division which posted a 22.7% and 746% surge in revenue during the period. Radiant's profitability also improced as gross and operating margin increased to 11.8% and 4.7%, while net margin rose to 2.2% from 1.4%. 

Disclosure: No position at the stock mentioned above.

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