JAKARTA: PT Modernland Realty Tbk, a property company, booked a 10.72% revenue decrease last year to IDR261.33 billion. Meanwhile, its operating income declined by 11.56% to 58.42 billion.
However, the company's net income soared more than 16 times to IDR38.60 billion or IDR12.63 a share, due to other incomes which were three times higher to IDR23,47 billion. The company also pocketed foreign exchange gain to its foreign exchange loss last year.
Its cash hiked almost three times to IDR74.19 billion as of December 31, 2010. The company's assets grew by 14.80% to IDR2.03 trillion, whilst its liabilities increased 26.50% to IDR919.59 billion.
The MDLN-coded stock decreased IDR5 or 1.96% to IDR250 at the Jakarta Stock Exchange at the midday trading break. (NOM)
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Source: http://www.bisnis.com/business/26084-modernlands-revenue-decreases1072-last-year
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