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Minggu, 31 Juli 2011

Gajah Tunggal Operating Margin Squeezed - The Indonesia Today

Giant tire manufacturer PT Gajah Tunggal (GJTL) Tbk, controlled by Nursalim family, booked net profit of Rp421.9 billion in the first half of 2011, inched up 1.4% from the corresponding period last year.

The company reported sales revenue of Rp5.8 trillion, an increase of 20.8% from the first half of 2010. But cost of sales surged 32% to Rp5.05 trillion. As a result, the company's gross profit dropped 22.7% to Rp768.79 billion.

Selling costs were lower, but compensated by higher administrative costs. As a result, Gajah Tunggal reported operating profit of Rp441.4 billion, fell 34% from the first six months of 2010.
Posted by Saham Pilihan at 22.09

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