Budi Acid Jaya tbk PT Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2012
April 26, 2012
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Budi Acid Jaya tbk PT reported consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported net sales of IDR 533,411 million, compared to IDR 608,989 million for the last year. Income from operations was IDR 25,321 million, compared to IDR 62,359 million for the last year. Income before tax was IDR 6,157 million, compared to IDR 53,405 million for the last year. Income attributable to owners of the company was IDR 1,823 million or IDR 0.4 per diluted share, compared to IDR 36,395 million or IDR 8.9 per diluted share for the last year. Net cash provided by operating activities was IDR 65,907 million, compared to IDR 30,252 million for the last year. Acquisitions of property, plant and equipment were IDR 25,776 million, compared to IDR 19,623 million for the last year.
PT Budi Starch & Sweetener Tbk is engaged in the industrial food processing and chemicals, and all derivative products produced from cassava, sweet potato, palm oil, copra and other agricultural products and a variety of industries, especially the plastics industry. The Company operates through four segments: Tapioca Starch, Sweeteners, Citric Acid and Other Chemical Products, and Plastic Packaging. Its Tapioca Starch product industrial users include food, paper, confectionery, sorbitol, chemical, and instant noodles. Its Glucose and Fructose product industrial users include food and beverage, confectionery, and pharmacy. Its Maltodextrin product industrial users include babyâs food, biscuit, milk, ice cream, and pharmacy. Its PP Woven Bag product industrial users include all industries, which need packaging, such as tapioca starch, and rice flour. Its Sulphuric Acid product industrial users include citric acid, fertilizer, rayon, color essences, medicines, and detergent.