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Sunson Textile swings to profit in Q4

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Sunson Textile swings to profit in Q4

PT Sunson Textile Manufacturer Tbk said its fourth-quarter normalized net income came to 14.39 rupiah per share, compared with a loss of 7.12 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 16.85 billion rupiah, compared with a loss of 8.34 billion rupiah in the prior-year period.

The normalized profit margin climbed to 6.9% from negative 9.9% in the year-earlier period.

Total revenue grew year over year to 244.06 billion rupiah from 83.82 billion rupiah, and total operating expenses rose from the prior-year period to 244.86 billion rupiah from 79.85 billion rupiah.

Reported net income totaled 20.13 billion rupiah, or 17.19 rupiah per share, compared to a loss of 8.62 billion rupiah, or a loss of 7.36 rupiah per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 7.21 rupiah per share, compared with a loss of 9.78 rupiah per share in the prior year.

Normalized net income was a loss of 8.44 billion rupiah, compared with a loss of 11.45 billion rupiah in the prior year.

Full-year total revenue fell year over year to 506.18 billion rupiah from 519.85 billion rupiah, and total operating expenses totaled 503.95 billion rupiah, compared with 502.27 billion rupiah in the year-earlier period.

The company said reported net income came to a loss of 10.46 billion rupiah, or a loss of 8.94 rupiah per share, in the full year, compared with a loss of 14.05 billion rupiah, or a loss of 12.00 rupiah per share, the prior year.

As of March 30, US$1 was equivalent to 13,222.50 rupiah.