Indomobil Finance'set income rises 17.34%

Published On: 25 March 2011

JAKARTA: PT Indomobil Finance Indonesia posted IDR48.11 billion net income throughout last year or 17.34% higher compared to IDR41 billion in previous period.

Director of Indomobil Finance Gunawan said the increase of net income was supported by revenue growth that reached IDR589.37 or 8.55% from the previous year at IDR542.9 billion.

However, the growth percentage of expenses exceeded the revenue, i.e. increasing by 11.37% to IDR526.37 billion.

According to him, the company’s revenue actually exceeds the figures in the financial report but because there is a regulation on Statement of Financial Accounting Standard (SFAS), then some of the revenues were deferred from the financial report.

Furthermore, he added that the company’s financing grew 120% last year, from IDR1.1 trillion in 2009 to IDR2.4 trillion at the end of 2010.

This year, the company targets 25% up to 45.83% increase in financing or between IDR3 trillion to IDR3.5 trillion. (T06/NOM)