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Ultrajaya Milk Industry & Trading Q1 profit climbs 58.5% YOY

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Ultrajaya Milk Industry & Trading Q1 profit climbs 58.5% YOY

PT Ultrajaya Milk Industry & Trading Co. Tbk. said its first-quarter normalized net income came to 10.26 rupiah per share, a gain of 58.5% from 6.47 rupiah per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 118.50 billion rupiah, a gain of 58.5% from 74.74 billion rupiah in the year-earlier period.

The normalized profit margin climbed to 11.4% from 8.3% in the year-earlier period.

Total revenue rose 14.8% on an annual basis to 1.035 trillion rupiah from 901.76 billion rupiah, and total operating expenses increased from the prior-year period to 848.54 billion rupiah from 809.12 billion rupiah.

Reported net income increased 66.3% from the prior-year period to 148.74 billion rupiah, or 12.87 rupiah per share, from 89.46 billion rupiah, or 7.74 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.