Astra Agro`s profit up 18.77 pct

Jakarta (ANTARA News) - Publicly listed plantation company PT Astra Agro Lestari Tbk (AALI) last year posted a net profit of Rp2.498 trillion compared to Rp2.103 trillion the year before.

Net income rose 21.8 percent to Rp10.77 trillion in 2011 from Rp8.843 trillion in 2010, AALI Director Santosa said in a public expose to the Indonesia Stock Exchange on Thursday.

Total assets in the year ended December 31, 2011 reached Rp10.204 trillion, a 16 percent increase compared to Rp8.79 trillion a year earlier, he said.

Under the audited consolidated financial statement, total liabilities as per December 31, 2011 jumped 33 percent or Rp444 billion compared to the same period a year earlier.

"The increase particularly originated from account payables totaling Rp173 billion, downpayment account Rp149 billion, benefit obligation account Rp69 billion and tax payable account Rp52 billion," he said.

The increase was the result of machinery, spare part and fertilizer purchase, downpayment from customers, an increase in benefit assumption for work recompense and an increase in the estimate of tax due on 2011 profit, he said.

In the share trading at the BEI on Thursday (Feb 23), AALI shares traded at Rp22,050 per share, down 150 points from Rp22,200 previously. (*)

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