JAKARTA: PT Gunawan Dianjaya Steel Tbk, a manufacturer of hot rolled steel plate, booked IDR62.91 billion net income in the first quarter of 2011, one and half times higher than the same period last year as revenue increased.
The company's revenue jumped by 48.90% to IDR552.27 billion in the first three months ending March this year. The domestic sales almost doubled to IDR272.27 billion, whilst the export sales grew 21.87% to IDR279.50 billion.
In a financial statement published today, the company was no longer exporting its products to Europe during the period.
The cash soared three-fold to IDR11,19 billion as of March 31, 2011. The asset of the company rose 10.93% to IDR1.19 trillion and its current liabilities increased 12.92% to IDR474.07 billion.
The GDST-coded stock gained 10.46% or IDR16 to IDR169, the highest in six months, at Indonesia Stock Exchange. (NOM)
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Source: http://www.bisnis.com/business/25601-gunawan-dianjayas-net-income-gains-15
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