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Wijaya Karya books stellar profits in 2016
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Power contract: PLN president director Sofyan Basir (second left) shakes hand with Bintang Perbowo, the president director of state-run construction firm Wijaya Karya, after signing a contract to build a 250 megawatt power plant in Aceh. (Courtesy of Wijaya Karya/File)
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tate-owned construction firm PT Wijaya Karya (Wika) booked Rp 1.01 trillion (US$75.8 million) in net profits last year, skyrocketing 161.9 percent year-on-year (yoy), the largest profits ever recorded by the firm.
The publicly listed company saw its sales, excluding joint operation (KSO) projects, reach Rp 15.67 trillion last year, a 15 percent increase yoy.
"Profits increased by 162 percent. This shows that the business strategy implemented by Wika to achieve its targets is the right one," Wika president director Bintang Perbowo said as quoted in an official statement circulated on Thursday.
"We believe we can book even better results in 2017.”
(Read also: Wika upbeat on new contracts this year)
Wika hopes to book Rp 102.9 trillion in contracts, including last year's carried-over projects, this year.
The firm has so far booked Rp 7 trillion in contracts this year.
"As Wika continues to win new contracts, we are sure that this year's sales and net profits will be better than in 2016," Bintang added.
Wika stock, traded on the Indonesia Stock Exchange (IDX) under the code WIKA, added 30 points to 2,510 in early trading on Thursday. (bbn)
