Feb 24, 2012

Astra Otoparts FY2011 profit drops 28%

PT Astra Otoparts Tbk (AUTO) today reported a 28.37% decrease in net profit last year (FY2011) as a result of higher cost of goods sold and other expenses.
Astra Otoparts booked a Rp1.01 trillion net profit last year from Rp1.14 trillion a year earlier. Operating profit fell 9.35% to Rp519.54 billion from Rp573.12 billion.
Gross profit slightly increased 7.83% to Rp1.24 trillion from Rp1.15 trillion, sending a lower operating margin to 16.8% from 18.37%. The company booked a 17.57% increase in net revenue to Rp7.36 trillion from Rp6.26 trillion. 

Disclosure: No position at the stock mentioned above. 

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