Mar 6, 2012

Mayora FY11 net profit drops 2.69%

Consumer products maker PT Mayora Indah Tbk (MYOR) reported a slight decrease in net profit last year as cost of goods sold rose higher than net sales.
In a consolidated financial statement filed to Indonesia Stock Exchange, Mayora's net profit slightly fell 2.69% to Rp471.03 billion or Rp614 a share last year (FY2011) from Rp484.09 billion or Rp631 a share in the previous year.
Operating profit abated 1.99% to Rp757.88 billion from Rp773.34 billion, while MYOR's gross profit also decreased 2.92% to Rp1.66 trillion from Rp1.71 trillion.
Cost of goods sold surged 41.12% to Rp7.79 trillion from Rp5.52 trillion, while net sales only rose 30.89% to Rp9.45 trillion from Rp7.22 trillion.
Mayora's net cash from operational activities plunged 355.17% to -Rp607.94 billion from Rp238.25 billion as the company made payment higher to suppliers, contractors, and employees of Rp9.32 trillion from Rp6.24 trillion.
Mayora paid Rp149.09 billion interest, higher than Rp87.93 billion. Mayora is controlled by PT Unita Branindo with 32.93% stake, employee cooperative of 0.11%, and public shareholders with 66.93%.

Disclosure: No position at the stock mentioned above. 

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