Jakarta-owned developer and recreation operator PT Pembangunan Jaya Ancol saw a 10 percent increase in net profit in the first quarter this year, to Rp 11.52 billion, compared to the same period last year, despite the global economic downturn.
The company president director Budi Karya Sumadi said Wednesday the higher profit was backed by increased revenue reaching Rp 131.43 billion, a 6 percent rise compared to the first quarter of 2008.
"A significant contribution to the revenue increase came from the tourism sector which contributed 60.2 percent, followed by the property sector contributing 33.9 percent, whilst 5.7 percent came from the trading and services sector. Each sector recorded growth in revenue." Budi told a press conference.
Budi added that the company had set modest targets for this year, hoping for around Rp 1 trillion in total revenue and Rp 140 billion in net profit by the end of the year.
"Because our company is planning to expand infrastructure projects next year, we would likely pay more costs on the initial planning efforts this year. Therefore, the target was not set too high," he said.
Budi said Pembangunan would invest Rp 200 billion for infrastructural development within and outside its amusement park area (in North Jakarta) next year.
"Infrastructure would contribute added value, as well as helping to build up the company's property business," he added, "It is also possible that we will sell bonds or more stocks. It depends on the market conditions."
However the company has not yet decided what kind of infrastructure it will build.
"There has been no fixed decision yet," said Budi.
He said the company had negotiated with some state and private companies regarding its plans, but had not reached any agreements.
During Wednesday's press conference, Budi also announced that Pembangunan would pay dividends worth Rp 59.76 billion, which worked out at Rp 37.35 per share this year, equivalent to 45.2 percent of last year's net profit.
In 2008, Pembangunan's net profit declined 6.1 percent to Rp 132.23 billion compared to Rp 140.87 billion in 2007.
However, the company's revenue last year reached Rp 854.37 billion, an increase of 12 percent from Rp 763.09 billion in 2007.
The company annual report said that net profit declined despite growing revenue because the company paid corporate bond remittances of Rp 19.06 billion in 2008.
The company also has issued bonds worth Rp 80 billion which would mature next year. (mrs)
