Enseval eyes 20% rise in revenue, profit

JAKARTA: PT Enseval Putra Megatrading, one of the country’s largest pharmaceutical distributors, said on Tuesday that it was targeting a 20 percent increase in revenue and net profit next year after its recent distribution deal with PT Abbot Indonesia, which dominates the nutritional products market.

“We estimate a 20 percent jump, which will be supported by the large sales of Abbott products,” Enseval president director Budi Dharma said. “We also manage Abbott’s logistics,” Budi said.

Budi said the company had booked Rp 7.3 trillion (US$811 million) in sales and Rp 175 billion in net profit in the first nine months of the year.

Finance director Amelia Bharata said the company planned to spend around Rp 150 billion to Rp 200 billion for capital expenditure next year. “The funds will be from our previous rights issuances. We haven’t seen the need to apply for loans,” she said. Enseval is 91.75 percent owned by Indonesia’s largest pharmaceutical company, PT Kalbe Farma.