Malindo booked 97.89% increased net profit to IDR112.11 bio

BI / exchange

15/11/2010

Irvin Avriano A.

Bisnis Indonesia

Malindo booked 97.89% increased net profit to IDR112.11 bio

JAKARTA: A listed animal feed producer, PT Malindo Feedmill Tbk, posted a net profit increased by 97.89% from IDR56.65 billion per 3rdQ/2009 to IDR112.11 billion in the 3rdQ/2009.

Based on financial reports published today, the increasing net profit was booked due to increased revenue of IDR36 billion, or 2.54% from IDR1.41 trillion in the 3rdQ/2009 to IDR1.45 trillion per 3rdQ/2010.

In addition, the increasing revenues was also accompanied by a decrease in cost of good sold amounted to 4.37% from IDR1.25 trillion to IDR1.2 trillion for the same period.

Per 3rdQ/2010, the company posted a net profit margin of 7.7%, which was increased by 92.97% of net profit margin in the quarter amounted to 3.99% III/2009.

Stock price that was coded MAIN close higher by 24.27%, or Rp625 to Rp3.200 levels this afternoon and establish its market capitalization amounted to Rp1, 08 trillion. Since late last year, the stock has given return of investment of 277.06% to investors.

The share price was about the upper limit of trading after a suspension of trade opened this morning.

Suspension is stock exchange authorities at the end of last week to calm the market due to increased price of 134.09% or Rp1.475 Rp1.100 at the close of October 28, 2010 to Rp2.575 on November 11, 2010.

Even the target has reached, the company haven't set a new target.