Thursday, October 27, 2011

PT Jembo Cable Company Tbk - PLN Order Boost Net Profit 490%

PT Jembo Cable Company Tbk (JECC) managed to record net profit of Rp 23.6 billion through September 2011. That number skyrocketed 490% over the same period the previous year of only Rp 4 billion.

The increase in net income also boosted sales increase to Rp 911.5 billion in September 2011 from previous USD 577.2 billion in the same period. Meanwhile, the company's operating profit shot up 5700% from $ 700 million in the third quarter of last year to Rp 40.6 billion at the end of September 2011.

This cable company also recorded a rise in assets to $ 675.5 billion through September 2011 compared to same period the previous Rp 538.8 billion. JECC obligations rose 27.2% from Rp 435 billion in the first nine months to $ 553.4 billion in September 2011. Company capital of Rp 122.1 billion in September 2011 from the same period the previous Rp 103.8 billion.

"We are targeting sales at the end of the year could reach USD 1.11 billion and net income is predicted to reach Rp 36.8 billion," said Anthony Bernady Company Secretary, on Thursday (27/10).

To boost sales, sales JECC currently still dominated by foreign policy that reaches 30% of total company sales. While the remainder is filled by the sale to Telkom by 7%, the distributor about 15%, private sector about 30%, exports 23%. "Orders from the large PLN can improve net profit in 2011, with 20-21% gross profit," explains Anthony.

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