JAKARTA (TheInsiderStories) – Followings are some news that could affect trading on the stock market today, which are compiled by the Insider Stories team:
- PT Aneka Tambang Tbk (IDX:ANTM), state owned gold and nickel producer, recorded net profit of Rp64.81 billion in 2016, improved significantly after recording net lss of Rp1.4 trillion in the previous year. The improvement was driven by lower cost of goods sale as well as financial charges. In the year, the company booked sales of Rp9.11 trillion, down from Rp10.53 trillin in previous year, while cost of goods sold reaced Rp8.25 trillion in 2016 comapred to Rp10.34 trillion in previous year. As a result, it booked gross profit of Rp851 billion, compared to only Rp195.14 billion in previous year.
- PT Timah Tbk (IDX:TINS) booked net profit of Rp591.97 billion, increased 148.10 percent from previous year although its revenues edged down 1.4% to Rp6.97 trillion. In 2017, the company projected net profit to grow by 10% on hopes the tin price will stabilize at around US$20,000-US$21,000 per metric tons. In 2017, Tima plans to produce 30,000 tons of tins, while capital expenditure is set at Rp2.65 trillion. The company’s President Director Riza Pahlevi said the capex will be used to increase production capacity, buy new equipments and maintenance.
- PT Matahari Department Store Tbk (IDX:LPPF) recorded revenues of Rp9.8 trillion in 2016, up 9.8% from previous year. As a result, its net profit increased by 13.4% to Rp2.02 trillion. Retail sales contributed Rp6.4 trillion to the total sales. In 2017, the company sets capital expenditure of Rp400-450 billion this year.
- PT Astra Agro Lestari Tbk (IDX:AALI) recorded revenues of Rp14.12 trillion in 2016, up 8% from previous year. Its gross profit rose 19% year-on-year to Rp3.68 trillion. Its net profit reached Rp2.01 trillion, tripled from previous year, partly driven by forex gains of Rp200.6 billion, compared to forex loss of Rp580.4 billion in previous year. (*)