By Dennis Chan
THE acquisition of an Indonesian vehicle company has given Gallant Venture a big lift in earnings and
The mainboard-listed company reported a second quarter net profit of $8.5 million, reversing from a
loss of $3.5 million in the same period last year.
Revenue for the three months to June 30 rocketed to $559.2 million from $51.4 million previously.
Gallant said in a statement that the results included the consolidation of Indomobil Sukses
Internasional's financial performance from May 2 this year.
The company is the second largest integrated vehicle assembly, distribution, sales and finance
company in Indonesia, and carries brands that include Nissan, Volvo, Suzuki, Hino, Audi and
Earnings per share amounted to 0.211 cent compared to loss of 0.144 cent previously while net asset
value per share grew to 62.57 cents from 52.37 cents as at Dec 31.