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Rabu, 27 April 2011

United Tractors Q1 Profit Soars 43% - The Indonesia Today

Heavy equipment, Mining contracting, and coal producer PT United Tractors (UNTR) Tbk booked net profit of Rp1.297 trillion in the first quarter of 2011, soared 43% from the same period last year on strong sales growth.

United Tractors reported sales revenue of Rp12.648 trillion in Q1/11, surged 45.1% from the same period last year, mainly attributable to strong sales growth of construction machinery.

Komatsu, the construction machinery division, reported 78.4% sales growth to Rp6.84 trillion, while mining contracting grew only by 10.7% to Rp4.48 trillion. Coal mining division, meanwhile, surged 58.8% to Rp1.33 trillion on higher sales volume of 35% and prices.

United Tractors booked operating profit of Rp1.7 trillion, increased 30.8% from the same period last year.

The Rp1.297 trillion net profit represents an earning per share of Rp390 for the quarter. The Stock, UNTR, closed higher by 1.31% to Rp23,250 Wednesday (Apr 27).

United Tractors is in the process to raise $700 million from the issuance of new shares.

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