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Economy in brief: Link Net books 28% hike in net profits in 2016
Publicly listed internet service provider PT Link Net, known for its broadband service FastNet, saw its net profits jump by 28 percent to Rp 818
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ublicly listed internet service provider PT Link Net, known for its broadband service FastNet, saw its net profits jump by 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 in its revenue to Rp 2.95 trillion last year compared to Rp 2.56 trillion booked in the previous year. The revenue is higher more than 15 percent 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 with quality and innovative products and services,” Link Net president director and chief executive officer (CEO) Irwan Djaja said in a statement.
Broadband and cable television revenue generating units (RGUs) climbed to 1,02 million units or 15 percent higher versus 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 a total of 1.83 million homes by the end of last year.
