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State construction firm Hutama Karya records Rp 361.9b first semester profit
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A Hutama Karya crane is pictured at a construction site in Jakarta. (Kontan/Cheppy A. Muchlis)
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tate-owned construction firm PT Hutama Karya has recorded Rp 361.90 billion (US$27.2 million) in profit in the first half of 2017, a 127.3 percent year-on-year increase from Rp 139.36 billion, according to a statement released by the company over the weekend.
The statement also reported that the company's revenue increased sharply by 70 percent to Rp 5.19 trillion, compared to Rp 3.05 trillion in the first half of 2016.
Most of the firm’s revenue and profits came from the constructions of toll road projects, said Hutama Karya operational director Bambang Pramusinto.
Read also: Regulation prepared to assign Hutama Karya as Tanjung Priok toll-road operator“We expect to get more new contracts for toll road construction projects,” Bambang said recently, as quoted by kontan.co.id, adding that the company had obtained new contracts worth Rp 6.7 trillion.
Meanwhile, Bambang said that Hutama Karya estimated it would make Rp 3.2 trillion through Engineering, Procurement and Construction contracts.
The construction firm targets earnings of Rp 18.7 trillion in revenue and Rp 948 billion in net profit this year. (dea/bbn)
