JAKARTA: PT Sunson Textile Manufacturer Tbk, textile producer, booked net profit amounting IDR2.38 billion in 1Q/2012 or dropped 53.63% compared with net profit in last year of IDR5.14 billion.
In the financial statement submitted to Indonesia Stock Exchange today, foreign exchange rate became the motor of the declining net profit.
In March 2011, Sunson Textile Manufacturer (SSTM coded-stock) obtained gain on foreign exchange of IDR12.48 billion. Meanwhile, in this period, the company recorded loss on foreign exchange of IDR4.73 billion.
Loss in foreign exchange was an impact of the high export per March 2012, which reached IDR46.32 billion. The number was equal with 36.83% of the Sunson’s consolidated sales of IDR125.76 billion.
Spinning products is still the main product of the company as the product has contributed IDR99. Billion or 78.8% of the consolidated sales.(T03)