AKRA Reports Q1?011 Net Profit after Tax of Rp 1,812 billion; Sales Revenue Q1?011 grows 79% YOY to Rp 4.35 Trillion

JAKARTA, April 25, 2011 - PT AKR Corporindo, Tbk. (Bloomberg: AKRA IJ), Indonesia’s leading bulk logistics and infrastructure company and largest private sector distributor of petroleum and basic chemicals reported net profit of Rp 1,812 billion in the quarter ended March 31, 2011 up 2,480% from  Rp 70 billion in the same period last year.

Net Profit without Extra ordinary gains (Core Profit) rose 82% to Rp 128 billion during Q 1’2011 compared to Rp 70 billion during Q1 ‘2010. 

The Company booked extra ordinary gains of Rp 1,685 billion on sale of Investment in manufacturing subsidiary, PT Sorini Agro Asia Corporindo, Tbk. The divestment raised over Rp 2,200 billion for the Company and the sales of Sorini shares was completed on January 28, 2011.

Sales Revenue during the quarter ended March 31, 2011 rose 79% to Rp 4,353 Billion compared to Rp 2,433 billion during the same period last year, driven by significant increase in petroleum sales.