Multipolar FY10 operating profit drops 97.08%

Bisnis.com,28 Jan 2011, 01:27 WIB

JAKARTA: PT Multipolar Tbk (MLPL), controlling shareholder of Indonesian ritailer PT Matahari Putra Prima Tbk (MPPA) and owned by Lippo Group, suffered a 97.08% drop in operating profit last year as net sales and gross profit tumbled.In 2010's financial statement published today, Multipolar posted IDR15.89 billion operating profit from IDR545.11 billion in 2009.Multipolar's net sales fell 12.39% to IDR9.45 trillion last year from IDR10.89 trillion in the previous year.As a result, gross profit of Multipolar, which is controlled by Riady family, tumbled 40.87% to IDR2.17 trillion in 2010 from IDR3.67 trillion in 2009.However, Multipolar's net income sky rocketed 2,457.25% to IDR2,83 trillion from IDR110.69 billion as one-time extraordinary income from Matahari's shares sale. (wiw)

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