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Ricky Putra Globalindo swings to profit in Q4

PT Ricky Putra Globalindo Tbk said its fourth-quarter normalized net income amounted to 49.16 rupiah per share, compared with a loss of 89 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 31.54 billion rupiah, compared with a loss of 573.5 million rupiah in the prior-year period.

The normalized profit margin increased to 9.8% from negative 0.2% in the year-earlier period.

Total revenue increased 24.7% on an annual basis to 321.91 billion rupiah from 258.14 billion rupiah, and total operating expenses climbed 16.3% from the prior-year period to 290.63 billion rupiah from 249.99 billion rupiah.

Reported net income grew year over year to 40.19 billion rupiah, or 62.62 rupiah per share, from 4.10 billion rupiah, or 6.39 rupiah per share.

For the year, the company's normalized net income totaled 17.81 rupiah per share, an increase of 19.1% from 14.95 rupiah per share in the prior year.

Normalized net income was 11.43 billion rupiah, an increase of 19.1% from 9.59 billion rupiah in the prior year.

Full-year total revenue declined 6.3% year over year to 1.111 trillion rupiah from 1.185 trillion rupiah, and total operating expenses declined 10.1% year over year to 1.011 trillion rupiah from 1.124 trillion rupiah.

The company said reported net income fell 22.3% on an annual basis to 11.04 billion rupiah, or 17.21 rupiah per share, in the full year, from 14.20 billion rupiah, or 22.13 rupiah per share.

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