Kalbe net profit soars 31.7%

PT Kalbe Farma (KLBF) Tbk, the largest pharmaceutical company listed on IDX, indicates net profit of Rp930 billion last year, surged 31.7% from the previous year on stronger sales and healthy margin. The company sits over huge cash in hands of Rp1.25 trillion.

KLBF in its presentation material disclosed indicative unaudited consolidated financial results for the full year 2009 as follows: (1) Net sales increased 14.3% to Rp9 trillion, (2) Operating profit surged 31.3% to Rp1.5 trillion, and (3) Net profit of Rp930 billion, soared 31.7% from 2008.

With earning per share (EPS) of Rp97, KLBF is currently traded with PE multiple 16. KLBF stock price jumped 6.25% today to Rp1530. At that price, KLBF has market capitalization of Rp15.54 trillion or about US$1.7 billion.

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