Monday, March 15, 2010

PP posted 35% net profit growth

State-owned construction and investment company PT Pembangunan Perumahan (PTPP) Tbk posted net profit of Rp163.26 billion last year, increased 34.7% from Rp121.6 billion in 2008 on improved margins.
PTPP then reported EPS of Rp43. Last Friday, the stock closed at Rp680. At EPS Rp43, PTPP is traded with PE multiple 15.8 on 2009 earnings.
PTPP reported net sales revenue of Rp4.2 trillion, increased slightly by 6.9% from 2008, but operating profit surged 37.3% to Rp367.9 billion. The company projected a net profit of Rp367 billion this year or an EPS of Rp96.3 The current price then reflected PE multiple 7.




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