PT Astra International Tbk (ASII) today reported a 24% increase in net profit last year on the back of robust growth in net revenue.
Astra International posted a Rp17.8 trillion net profit in FY2011 from Rp14.4 trillion in FY2010. Net profit per share increased 24% to Rp4,393 from Rp3,549 as well.
Gross profit rose 23.57% to Rp32.03 trillion from Rp25.92 trillion, while operating profit grew 21.05% to Rp17.83 trillion from Rp14.73 trillion.
The company booked a 26% growth in net revenue to Rp162.6 trillion from Rp129 trillion.
Despite higher operating profit, Astra International's operating margin retreated to 10.97% from 11.41%
Gross margin slightly fell to 19.70% from 20.09% due to higher cost of revenue.
Astra International has determined to propose a 1-for-10 stock split agenda during an extraordinary of shareholders meeting scheduled in April or May this year.
Gita Tiffany Boer, Astra's Corporate Secretary, said the stock split is aimed to help making Astra's stocks available for retail investors and improve its stock liquidity.
Disclosure: No position at the stock mentioned above.
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