Saturday, January 02, 2010

Gudang Garam gains 407%

Cigarette producer PT Gudang Garam (GGRM) Tbk is the top gainer among the bluechip stocks on Indonesia Stock Exchange (IDX) with 407% gain in 2009. The company closed the year with market capitalization of Rp41.46 trillion or about US$4.4 billion, almost twice its total asset.
Gudang Garam reported sales revenue of Rp23.5 trillion in Jan-Sep 2009, unchanged from the same period last year. But the company booked substantially higher net profit of Rp2.48 trillion in the period, against Rp1.5 trillion in the same period last year. 
At Rp21,550, GGRM is traded with PE multiple 13, lower than the market average (PE 17). GGRM had total equity of Rp17.3 trillion as of September 2009.
HM Sampoerna, meanwhile, has lower assets (Rp17 trillion) but higher market capitalization (Rp45.58 trillion) because it generates more profit (Rp3.69 trillion in Jan-Sep 2009) and higher sales (Rp28.37 trillion). But HM Sampoerna stock was rarely traded.

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