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Thursday, July 1, 2010

Unitex targets IDR161 billion sales

Friday, 25/06/2010 00:00 WIB

Unitex targets IDR161 billion sales

Irvin Avriano A.
Bisnis Indonesia

JAKARTA: PT Unitex Tbk, the materials and thread producer, targets to increase corporate sales into IDR161 billion this year or grows by 10.58 percent as from DIR145.59 billion last year.

Director of Unitex Sugi Hadi Prawiro said the revenue target is also related to the corporate net profit target of IDR1.8 billion this year crashing by 94.13 percent from last year proceeds worth IDR30.67 billion.

"The company target this year is not high in anticipation of rupiah and US dolar exchange rate fluctuation and some economy condition," said Sugi Hadi in public expose after GMS yesterday.

The projection is based on the booked corporate sales worth US$4.04 million or 12.11 percent lower than the targeted US$4.6 million.

The amount equals to the 3.39 kilometers length of the sold materials or shorter than the targeted 3.52 kilometers.

Based on finance statement, in quarter I/2010 it booked IDR38.75 billion revenues and DIR2.58 billion net profits.

But he said this year the company located in Tajur, Bogor, targets to sell 14 kilometers material length. It grows by 26.58 percent as from 11.06 kilometers booked by the company last year.

The company does not set any high growth target this year which goes along with the corporate plan to maintain the number and quality of work relation with the corporate customers particularly those from abroad.

He said the company now is facing fluctuation of rupiah and US dollar currencies, competition with China material products, ACFTA challenges, and the soaring electricity basic tarrift.

Sugi Hadi said the company has got approval from the shareholders not to share dividend to the investors as the company still suffers from cumulative losses despite the recorded IDR30.67 billion net profits last year.

"We cannot share dividend yet because cumulatively we are still loss and this goes in line with the Limited Corporation regulation," he added. (Bisnis/iaa)



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