Adhi Karya on track to meet 2012 target
State-owned construction company PT Adhi Karya secured Rp 2.6 trillion (US$284m) worth of contracts during the first three months this year, amounting to 19.25 percent of its 2012 target, a company spokesman says.
The company projects revenues of Rp 94 trillion this year, with a net profit of Rp 245 billion, kompas.com reported. It aims to secure contracts worth Rp 13.5 trillion to do so.
According to company corporate-secretary Kurnadi Gularso, the contracts come from jetty construction for PT Aneka Tambang (Rp 330 billion), building the Gempol-Pandaan Paket I toll road (Rp 350 billion), the establishment of double-track railroads between Central and East Java (Rp 200 billion) and a mall in Bandung (Rp 120 billion).
"With this achievement, we hope that sales in the first quarter of 2012 will improve," Kurnadi said.
Kurnadi said that Adhi Karya changed the name and functions of two of its subsidiaries in order to make them more focused.
PT Adhi Realty, a property and real estate company, has become PT Adhi Persada Property and works just in the property business.
PT Adhicon Persada, formerly known as its construction subsidiary, is now a real estate company called PT Adhi Persada Realty.(png/dic)