Wika Beton net income soars 63.91 percent in 2016
The Jakarta Post
PT Wijaya Karya Beton has seen net income soar 63.91 percent to Rp 281.57 billion (US$21.12 million) in 2016 from Rp 171.78 billion in 2015, thanks particularly to rapid sales growth in Central Java and North Sumatra.
According to the precast concrete maker’s audited financial results published on Friday, revenue increased by 31.26 percent to Rp 3.48 trillion in 2016 from Rp 2.65 trillion in 2015.
Among six sales areas for the company, Central Java and North Sumatra saw the biggest sales increase at year-on-year (yoy) growth rates of 53.26 percent and 32.37 percent, respectively to Rp 430.56 billion and Rp 665.38 billion.
North Sumatra is the biggest contributor to the company’s sales, followed by Jakarta with Rp 657.13 billion. The company’s performance in Jakarta, however, was stagnant last year, with sales increasing by just 0.83 percent.
East Java is the company's third-biggest contributor after sales increased by 30.18 percent yoy to Rp 582.3 billion.
The fact that net income growth beat revenue growth last year was attributed to operating costs rising by just 6.69 percent to Rp 96.18 billion, enabling the company to increase its operating profit by 71.23 percent to Rp 408.26 billion.
The company said its operations outside Java, which accounted for revenue of Rp 1.54 trillion and net income of Rp 173.5 billion last year, had become more efficient. (bbn)
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