Jasa Marga (JSMR IJ) - In-Line 1H11 Result

Jasa Marga (JSMR IJ) – Maintain Buy
Price: Rp3,900 – Target Price: Rp4,200

In-line 1H11 Result

  • Revenue and net profit grew by 10.7% and 14.7% YoY, relatively in-line within our estimate.
  • Traffic volume surged by 36.6% YoY due to payment system adjustment.
  • On QoQ basis, revenue and net profit slightly up by 4.3% and 2.2% QoQ.
  • Expect for stronger 2H11 performance on higher traffic volume and tariff hike.
  • Maintain BUY with Target Price of Rp4,200.
  1. Jasa Marga (JSMR) 29 July 2011 (208.9 KiB)