JAKARTA: Publicly listed tire maker PT Goodyear Indonesia Tbks net income declined despite higher revenues.
The company posted a net income of US$3.22 million in the first half of 2011, decreasing by 27.25% compared to the same period last year. Its earning per share fell to US$0.08 a share from US$0.11.Revenue rose 16.54% to US$109.54 million in the second quarter, compared with US$93.99 million in second quarter of 2010.Cost of goods sold increased 18.80% to US$100.17 million. It curbed the companys gross profit by 3.16 to US$9.36 million.The cash and cash equivalents soared 26.82% to US$15.87 million as of June 30, 2011, compared with US$12.51 million at the end of 2010.The GDYR-coded stock was traded unchanged at IDR10,250 as of 1.25 p.m. in Jakarta. (msw/NOM)
