Mandala booked IDR51 net profit in 1stQ

BI/financial

19/5/2011

Irvin Avriano A.

Bisnis Indonesia

Mandala booked IDR51 net profit in 1stQ

JAKARTA: PT Mandala Multifinance Tbk booked net profit of IDR51 billion in the 1stQ/2011, an increase of 108% from IDR24 billion booked in the 1stQ/2010.

Mandala Multifinance President Director Harryjanto Lasmana said the company recorded revenue IDR276 bio, an increase of 60% from IDR172 bio in the same period last year. Revenue comes from a successful financing is channeled to the first quarter of this year.

"[Now,] distribution of financing for the company booked IDR898 billion in the 1stQ/2011, an increase of 33% from IDR677 billion in the 1stQ/2010," said Harryjanto in public expose this afternoon.

The company, he said, targeting the distribution of financing amounting to IDR5.5 trillion this year, an increase of 48.64% from IDR3.7 trio which were recorded last year.

Last year, he said, the company recorded a new financing of used motorcycles IDR1.76 trio and IDR1.92 trio new units. The fund was distributed to approximately 311,000 units of used motorcycles and about 125,000 new units.

Although the company revealed plans this year, Harryjanto and management did not disclose the results of general meeting and extraordinary shareholders' annual (EGM and AGM) held today with reason to wait for submission report of AGM and EGM results the stock exchange authorities.

The company's shares are coded MFIN IDR20 or it strengthened by 1.63% to IDR780 today. The price forming its market capitalization amounted to IDR1.03 trio and the price to earnings ratio (PER) of 6.44 times.