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Monday, August 8, 2011

7 Chemical Companies Boost Their Net Income

Net profit in seven chemical sector issuers until the first half of this year the average jumped 444.93% to Rp31, 49 billion compared with the performance of the same period last year which is only Rp 5, 78 billion. However, an issuer were recorded net loss Tbk, PT International Intanwijaya the losers Rp5, 28 billion, up 73% compared with the performance of the same period a year earlier loss Rp3, 05 billion.

Based on data collected by Bisnis Indonesia Intelligence Unit (BIIU), the largest net profit growth recorded by the PT Eterindo Wahanatama Tbk, reaching 2736% to Rp51, 82 billion compared with the performance of the same period of 2010 which only Rp1, 83 billion.

Director Eterindo Immanuel Sutarto explain skyrocketing growth of the company's net profit was caused by the revaluation of assets, companies whose value rose to 35%.

"If the business is not so great in which stems partly from the sale of biodiesel," he said when contacted by Business, last week.

Until the end of this year, he projected the company's net profit will grow about 10% compared with last year's performance. "So it seems the performance of the semester I/2010 first half of 2011 compared with the performance, not apple to apple," he said.

The second largest net profit growth is occupied by PT Unggul Indah Cahaya Tbk, which scored a net profit growth reached 1937% to Rp50, 95 billion compared with the same period a year ago the only Rp2, 5 billion.
Of the 10 chemical sector issuers listed on the Indonesia Stock Exchange, three of which have not submitted financial statements per June 30, 2011, PT Barito Pacific Tbk, PT Sorini Agro Asia Corporindo Tbk, and PT Chandra Asri Petrochemical Limited.
Third largest net profit growth recorded by the PT Budi Acid Jaya Tbk, reaching 548% to Rp89, 66 billion compared with the performance of the same period in 2010 amounting to Rp13, 82 billion.

Although growth is not as big Eterindo and Unggul Indah, total net profit Budi Acid recorded the largest issuer in comparison with other chemicals.

Meanwhile, Tbk PT Indo Acidatama posted a net profit growth of 194% to Rp4, 99 billion compared with the same period of 2010 amounted to Rp1, 71 billion. PT Ekadharma International Tbk booked a net profit growth of 23% to Rp18, 42 billion compared with the same period a year ago Rp14, 99 billion.

Furthermore, PT Duta Pertiwi Nusantara Tbk booked a net profit growth recorded the lowest at 14% to Rp9, 89 billion compared to the same period in 2010 Rp8, 66 billion.

On the revenue side, Ekadharma recorded largest recorded a revenue growth of 39% to Rp174, 32 billion compared with the performance of the same period of 2010 amounted to Rp125, 52 billion. The next largest revenue growth recorded by Budi Acid and Unggul Indah which each grew by 36% and 24%.

As for Duta Pertiwi Nusantara, Indo Acidatama, and Eterindo Wahanatama just posted a growth of respectively 9%, 8% and 3%.

Head of Research Division of PT Universal Broker Indonesia Satrio Utomo mention top perform of the seven issuers chemical sector assess the financial performance will provide a positive impact on stock price movement of chemicals that are less desirable for investors. "That number would mean the sector has begun the road, start profitable and make money," he said.

Nevertheless, he continued, generally stocks that move in the chemical sector has a market capitalization of small and medium enterprises, causing the shares of this sector is only glimpsed by local investors. "This is still a problem. But living just seen whether these stocks can be changed from the stock-market maker had to stocks that have a more healthy movement, "he added

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