Mar 21, 2012

Antam FY11 profit up, but margin drops

Nickel and gold miner PT Aneka Tambang Tbk (Antam) posted a 14.88% increase in net profit last year, driven by higher net other income.
Antam booked Rp1.93 trillion net profit or Rp202.44 a share last year from Rp1.68 trillion or Rp176.77 a share.
Operating profit slightly increased 2.03% to Rp2.01 trillion from Rp1.97 trillion, sending an operating margin dropped to 19.42% from 22.54% on the back of higher operating expenses and cost of goods sold.
Net sales increased 18.42% to Rp10.35 trillion from Rp8.74 trillion. 

Disclosure: No position at the stock mentioned above.

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