Elnusa profit may jump 81% this year

The Jakarta Post ,  Jakarta   |  Tue, 02/12/2008 11:15 AM  |  Business

Publicly listed energy contractor PT Elnusa, a unit of state oil and gas company Pertamina, has set a forecast of an 81 percent increase in net profit this year.

Elnusa Corporate Secretary Heru Samodra said Monday in a statement to the Indonesia Stock Exchange (ISX) that profit would swell to an estimated Rp 199.8 billion (US$21 million) this year from an unaudited Rp 110.3 billion last year.

The substantial increase is in line with an expected high revenue of Rp 2.19 trillion this year, up from Rp 2.11 trillion, the company said in the statement.

The company estimated an operational profit of Rp 270 billion, up from last year's unaudited Rp 114.6 billion.

Elnusa's total assets are expected to increase to Rp 3.06 trillion as of the end of this year, up from Rp 2.29 trillion last December.

Elnusa recently sold around 1,460 billion shares or 20 percent of its total shares to the public at Rp 400 each.

The company is now 41.1 percent owned by Pertamina, 37.15 percent by PT Tri Daya Esta, 1.17 percent by PT Danareksa Daiwa NIF Ventures, 0.39 percent by PT Danareksa holds, 0.12 percent by Elnusa employees, 0.05 percent by Elnusa Pension Plan Foundation and 0.01 percent by the Elnusa workers' cooperative. (rff)

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