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The Jakarta Post
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AKR Corporindo eyes 40% growth in net revenue this year

  • Ahmad Bayuny
    Ahmad Bayuny

    The Jakarta Post

Jakarta | Fri, April 21, 2017 | 03:31 pm
AKR Corporindo eyes 40% growth in net revenue this year PT AKR Corporindo storage tanks (kontan.co.id/Carulus Agus Waluyo)

PT AKR Corporindo (AKRA), a publicly listed distributor of basic chemicals and petroleum products, eyes 40 percent growth in net revenue this year to Rp 21 trillion (US$1.58 billion).

“With the assumption that the oil price will increase consistently, and given the positive outlook for the economy, we see net revenue rise to between Rp 20 trillion and Rp 21 trillion in 2017,” AKR Corporindo director Suresh Vembu said.

AKR Corporindo president director Haryanto Adikoesoemo added that the company would expand its business in the retail sector by building more fuel stations.

“The growth potential is very large,” said Haryanto, adding that more gas stations were still needed, considering Indonesia’s large population and the fast growth in vehicles sales.

The Java Integrated Industrial and Ports Estate (JIIPE) in Gresik would contribute to the company’s income, Haryanto added.

Suresh explained that 10 percent of the company’s income was generated by JIIPE. “We expect that in the next five years, JIIPE will contribute up to 25 percent to our income,” he added.

The company’s annual shareholders meeting has agreed to distribute Rp 120 per share in dividends. (bbn)

The writer is an intern at The Jakarta Post.

 

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