Global Teleshop books Rp 1.39t in first half

Telecommunication devices retailer PT Global Teleshop (GLOB) booked Rp 1.39 trillion (US$145.95 million) in revenues during the first half of this year, representing 44.83 percent of its annual target, the company stated in an unaudited financial report released on Friday.

The revenue figure is a 135.7 percent jump from the same period last year of Rp 591.54 billion.

Global yielded Rp 56.21 billion in net profit and gained almost 90 percent from Rp 29.77 billion during the January-to-July period last year.

To meet the 2012 revenue target, Global planned to diversify its products and establish 60 to 100 branches, in addition to its existing 313 branches.

The company has allotted Rp 40 billion to Rp 50 billion in capital expenditure this year.

Since its trading debut on the Indonesia Stock Exchange (IDX) on July 10, GLOB shares have dropped by 6 percent from Rp 1,150 per share to Rp 1,080 per share on Friday’s close. (yps)