Mar 26, 2012

AKR Corporindo FY11 profit soars 637%

PT AKR Corporindo Tbk (AKRA), fuel distributor and chemical products maker, today reported a 637.62% jump in net profit last year, mainly driven by proceed of shares sale worth Rp2.11 trillion.
In the financial statement published today, AKR booked Rp2.29 trillion net profit or Rp601.22 per share last year from Rp310.92 billion or Rp83.26 a share in 2010.
Operating profit rose 108.34% to Rp715.53 billion from Rp343.45 billion, while gross profit increased 68.17% to Rp1.02 trillion from Rp605.58 billion. AKR posted revenue of Rp18.81 trillion, a 82.27% increase from Rp10.32 trillion.
According to President Director Haryanto Adikoesoemo, the revenue jump was underpinned by robust growth in fuel distribution business.  

Disclosure: No position at the stock mentioned above.

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