TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Petrosea upbeat about high revenue growth

  • Stefanno Reinard Sulaiman

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, April 23, 2019   /  03:10 pm
The Jakarta Post Image
A field officer monitors heavy equipment at PT Bukit Asam’s mining site. (Courtesy of/www.ptba.co.id)

Publicly listed engineering, construction and mining company PT Petrosea Tbk (PTRO) is upbeat that it would continue to see high revenue growth with the expected increase of operating income from its mining business. Like last year, the firm’s 2019 net profit is projected to exceed its initial target, said Petrosea president director Hanifa Indradjaya. In a public expose event on Monday, the company reported a net profit of US$22.96 million in 2018, an roughly 97 percent increase from the $11.63 million recorded in 2017. The company’s operating income grew 48.57 percent from $313.48 million in 2017 to $465.74 million in 2018.  The company’s 2018 net profit was higher than the initial target of $17 million, Hanifa said, adding that he was upbeat this year’s profit would also exceed the target, which he declined to reveal. One of Petrosea’s ma...