JAKARTA: PT Alam Sutera Realty Tbk, a property developer in Argo Manunggal Group, booked higher sales by 97.49% to IDR405.05 billion in the first quarter 2011 from IDR205.09 billion in the same period of last year.
The higher sales also drove up the developer's net income by 151.64% to IDR158.47 billion from IDR62.97 billion.
Meanwhile, its cost of goods sold also soared by 66.48% to IDR195.97 billion from IDR117.71 billion, as stated in a financial statement submitted to Indonesia Stock Exchange.
In addition, the higher revenues kept bolstering the growth in gross income by 139.27% to IDR209.08 billion from IDR87.28 billion, while its expenses also jumped by 309.65% to IDR18.28 billion from IDR4.46 billion.
Along with the higher performance, profit of the current period enhanced 151.88% to IDR158.75 billion from IDR63.02 billion, while earnings per share also escalated by 152.57% to IDR8.88 from IDR3.52.
In today's trading (10.51 a.m), the ASRI-coded shares were opened up by 15 points or 4.84% to IDR325, leading to market capitalization of IDR5.89 trillion. (T01/NOM)
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Source: http://www.bisnis.com/business/25706-alam-suteras-sales-almost-doubles-to-idr405-billion
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