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Wika's net profits grow 27 percent in Q1
The Jakarta Post , Jakarta | Mon, 05/11/2009 4:33 PM | Business
The state-owned PT Wijaya Karya (WIKA) on Monday announced its Rp 45.93 billion (US$ 4.2 million) in net profits for the first quarter of this year.According to the company president director, Bintang Perbowo, the profit had grown by 27 percent, or Rp 36.16 billion, since the same quarter last year.
"The growth was supported by sales which netted Rp 1.3 trillion until March this year," Bintang said during a press conference at the Indonesia Stock Exchange (IDX).
WIKA, which is one of the biggest construction companies in Indonsia, is in the process of cooperating on projects to build 400 kilometers of roads and 44 bridges with investors from Aljazair.
"The total value of the contract is Rp 40 trillion, in which Wika gets Rp 700 billion. We expect the projects to be completed by 2011," Wika director Budi Harto told journalists. (naf)
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