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Sekar Laut Q4 profit climbs YOY

PT Sekar Laut Tbk said its normalized net income for the fourth quarter was 5.94 rupiah per share, a gain from 1.35 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 4.11 billion rupiah, an increase from 930.0 million rupiah in the prior-year period.

The normalized profit margin increased to 2.2% from 0.5% in the year-earlier period.

Total revenue grew 11.3% on an annual basis to 190.41 billion rupiah from 171.04 billion rupiah, and total operating expenses grew 8.3% year over year to 183.06 billion rupiah from 168.97 billion rupiah.

Reported net income increased 81.8% year over year to 4.06 billion rupiah, or 5.87 rupiah per share, from 2.23 billion rupiah, or 3.23 rupiah per share.

For the year, the company's normalized net income totaled 25.21 rupiah per share, an increase of 27.9% from 19.71 rupiah per share in the prior year.

Normalized net income was 17.42 billion rupiah, an increase of 27.9% from 13.61 billion rupiah in the prior year.

Full-year total revenue increased 9.3% on an annual basis to 745.11 billion rupiah from 681.42 billion rupiah, and total operating expenses rose 8.6% year over year to 714.23 billion rupiah from 657.46 billion rupiah.

The company said reported net income rose 17.8% year over year to 20.41 billion rupiah, or 29.55 rupiah per share, in the full year, from 17.34 billion rupiah, or 25.10 rupiah per share.

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