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Langgeng Makmur Industri Q3 profit falls YOY

PT Langgeng Makmur Industri Tbk said its normalized net income for the third quarter was 34 Indonesian sen per share, a decline of 89.0% from 3.06 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 338.3 million rupiah, a decrease of 89.0% from 3.09 billion rupiah in the prior-year period.

The normalized profit margin declined to 0.3% from 2.4% in the year-earlier period.

Total revenue fell 12.5% on an annual basis to 113.69 billion rupiah from 129.88 billion rupiah, and total operating expenses fell 11.6% from the prior-year period to 103.77 billion rupiah from 117.33 billion rupiah.

Reported net income declined 89.3% year over year to 398.0 million rupiah, or 39 sen per share, from 3.71 billion rupiah, or 3.67 rupiah per share.

As of Nov. 20, US$1 was equivalent to 13,615 rupiah.