Arwana Citramulia: FY17 Result & Outlook

Ceramic producer Arwana Citramulia (ARNA) booked a net profit of Rp122 billion in 2017, grew 33.5% from Rp90 billion in 2016. Its revenues rose 14.6% to Rp1.73 trillion from previous Rp1.51 trillion. Operating profit grew 30.6% to Rp187 billion. ARNA’s operating profit margin increased 14% to 10.8% and net profit margin grew 16.5% to 7%. This positive growth might reflect the overall improvement in property and housing market.

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Market Snapshots & Corporate Actions

A rally in Asian equities looked set to extend into a third week after U.S. stocks posted strong gains and Treasury yields dipped with U.S. monetary policy back in focus in a week that includes two appearances from Federal Reserve Chairman Jerome Powell, Bloomberg reported.

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