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Langgeng Makmur Industri swings to profit in Q1

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Langgeng Makmur Industri swings to profit in Q1

PT Langgeng Makmur Industri Tbk said its normalized net income for the first quarter came to 57 Indonesian sen per share, compared with a loss of 90 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 573.3 million rupiah, compared with a loss of 907.2 million rupiah in the prior-year period.

The normalized profit margin rose to 0.5% from negative 0.9% in the year-earlier period.

Total revenue totaled 104.28 billion rupiah, compared with 103.30 billion rupiah in the prior-year period, and total operating expenses decreased 7.0% on an annual basis to 92.77 billion rupiah from 99.76 billion rupiah.

Reported net income totaled 541.4 million rupiah, or 54 sen per share, compared to a loss of 1.25 billion rupiah, or a loss of 1.24 rupiah per share, in the year-earlier period.

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