Link Net books 28% hike in net profit last year
The Jakarta Post
Publicly listed internet service provider PT Link Net, known for its broadband service FastNet, saw its net profit jump 28 percent to Rp 818.56 billion (US$61.46 million) last year compared to the same period in 2015.
The company, which is a subsidiary of the Lippo Group-affiliated multimedia firm First Media, added Rp 390 billion to its revenue to Rp 2.95 trillion last year compared to the Rp 2.56 trillion booked in the previous year. The revenue is a 15 percent increase year-on-year (yoy).
“This [the result] is a reflection of the opportunities that abound in a largely under-penetrated market, and the company’s ability to stay focused on its premium target segment and differentiates itself from quality and innovative products and services,” Link Net president director and CEO Irwan Djaja said in a statement.
(Read also: Link Net sees profits soar in Q3)
Broadband and cable television revenue generating units (RGUs) climbed to 1.02 million units, 15 percent increase from 890,000 in 2015. Meanwhile, bundled average revenue per user (ARPU) remained premium at Rp 407,000, according to the statement.
The firm also continued to expand its network to 153,000 new homes, bringing its total to 1.83 million homes by the end of last year.
The stocks of Link Net, traded at the Indonesia Stock Exchange (IDX) under the code LINK, opened the trading day on Monday at 4,920. The stock value shrunk by 5.05 percent so far this year, Bloomberg data shows. (hwa)
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