Feb 24, 2012

Astra Agro FY11 net profit rises 19.31%

CPO producer PT Astra Agro Lestari Tbk (AALI), that is controlled by PT Astra International Tbk (ASII), reported a 19.31% increase in net profit for the period ended December last year (FY2011)
In a statement published today, Astra Agro's net profit last year reached Rp2.41 trillion from Rp2.02 trillion a year earlier.
Gross profit slightly increased 8.86% to Rp3.93 trillion from Rp3.61 trillion, while net revenue rose 21.83% to Rp10.77 trillion from Rp8.84 trillion.
Cash from operations increased 7.12% to Rp3.16 trillion from Rp2.95 trillion, while cash and cash equivalent shrank 32.45% to Rp838.19 billion from Rp1.24 trillion on the back of cash dividend distribution of Rp1.48 trillion from Rp1.03 trillion.
Astra Agro reported a 12.9% increase in CPO sales volume last year to 1.26 million tons from 1.11 million tons a year earlier.
In an investor bulletin filed to Indonesia Stock Exchange (IDX), the local market took 95.3% of the total sales, while the export market's CPO sales volume reached 59,418 tons.
Astra Agro's CPO average selling price (ASP) increased 7.8% to Rp7,576/kg from Rp7,027/kg, while kernel ASP slightly increased 5.9% to Rp4,309/kg from Rp4,070/kg. The company reached a 34.5% rise in kernel sales volume to 198,561 tons from 147,595 tons.

Disclosure: No position at the stock mentioned above.

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