PT Voksel Electric Cable Company Limited recorded a net profit of Rp49, 78 billion in the first half of 2011 from the previous losers Rp12, 66 billion. Based on the financial statements released by the company today known net profit in first six months of this year, underpinned by significant sales growth of 88.61%.
As of June 2011, the Electricity Voksel attained sales of Rp949, 49 billion, compared with the same period last year amounting to Rp503, 42 billion.
Along with the increase in sales, cost of sales rose 80.68% to Rp819, 49 billion from Rp453, 55 billion, so the company's gross profit surged 160.73% to Rp130, 01 billion from Rp49, 86 billion.
In the post operating expenses also increased but not great which is 5.84% to Rp52, 45 billion in the first half of 2011 from Rp49, 56 billion. As a result, operating income of the company's rapidly growing 250-fold to Rp77, 56 billion from Rp306, 7 million.
Other expenses the company also fell 26.96% to Rp9, 45 billion from Rp12, 93 billion, one of them due to foreign exchange earnings rise 41.77% to Rp14, 94 billion from Rp10, 54 billion.
The stock price rose 10% VOKS coded to the level of market cap and make it Rp660 Rp548, 5 billion valued.