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Monday, May 24, 2010

Astra Graphia targets IDR1.5 trillion revenues

Thursday, 20/05/2010 00:00 WIB

Astra Graphia targets IDR1.5 trillion revenues


Irvin Avriano A.
Bisnis Indonesia

JAKARTA: PT Astra Graphia Tbk, the subsidiary firm of PT Astra International Tbk, targets to increase the revenue into IDR1.46 trillion at minimum this year. The figure rose by 10 percent as from IDR1.33 trillion last year.

"At least we target to tap double digits this year above 10 percent for the net profit and revenue," said President Director of Astra Graphia Lukito Dewanjaya to press after public expose yesterday.

Emitter AGMS yesterday decided to share DIR20 dividend or ID26.97 billion or 40.3 percent of the IDR66.94 billion net profit last year.

"The amount has include the IDR6 interim dividend shared November last year and the other IDR14 per share unit is paid on June 17," said Director of Astra Graphia Diana Makmur.

In quarter I/2010, emitter revenue was corrected by 18.15 percent as from last year, but the net profit sharply increased by 51.81 percent. The company booked IDR291.55 billion revenues in quarter I/2010 from IDR356.21 billion in quarter I/2009.

Despite the falling revenue, business profit of Astra Graphia rose by 6.77 percent from IDR23.49 billion in quarter I/2009 into IDR25.08 billion in quarter I/2010 along with the declining sales outstanding cost.

Diana said the revenue plummet was driven by the significant information technology project of the subsidiary business early 2009. the similar project could not be used by the company. "But we are optimistic this year will be as good as last year."

Besides, he said the soaring net profit was also driven by the interest rate drop. In the GMS the company approved the change of directors from Satyo Lumaksono Hadisaputro replaced by Herrijadi Salim.

Lukito said this year the company allocates routine capital expenditure by IDR78-80 billion to hire machinery annually. But the company also studies the acquisition of some business and business brands this year.

However, the company has not specifically defined the acquisition target or prepared special budget for the acquisition scheme. When needed, the company has larger cash and could lure debt facility which is still at minimum amount.

Now the calculation of debt to equity ratio (DER) is below 1 percent. "We have IDR61.9 billion debts or far different from our cash. By end of quarter I we still have IDR134.35 billion cash," she said.

Relating to the rumor on the investor interest to the company, Lukito said he has heard any information about that. But the company has not got any interest expressed by the investor.

Yesterday, the stock price of Astra Graphia, ASGR, was weakened by 3.26 percent to the level of IDR445 per share with market capitalization of IDR600.2 billion. (Bisnis/iaa)

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