AKR net profit increases 25%

By Romel S. Gurky

IDX-listed PT AKR Corporindo Tbk, which is engaged in distribution and trading of chemicals and petroleum products, reported that net profit attributable to the equity holders of the parent entity last year increased by 25 percent to Rp 810 billion from Rp 648 billion in 2013.

The company said in a filing with the Indonesia Stock Exchange Thursday unaudited consolidated revenues of Rp 22.468 billion last year, slightly higher than Rp 22.338 billion reported during the previous year.

Gross profit significantly improved by 27 percent year-on-year to Rp 1,732 billion, while gross margin rose to 7.7 percent in 2014, compared to 6.1 percent in 2013. Likewise, operating margin increased to 4.7 percent from 3.4 percent.

Petroleum distribution business accounted for 79 percent of consolidated revenues, while 14 percent of the revenues during 2014 was contributed by basic chemicals and remaining 7 percent from logistics and manufacturing.

?AKR continues to invest and expand its tank terminals, retail petrol outlets and other infrastructure to support the distribution of petroleum and raw materials. The ongoing development of our Java Integrated Industrial Port and Estate in Gresik will further enable the company to achieve its long term growth. The commissioning of first stage of the port and establishment of a new joint venture, which will explore setting up of power plants in the industrial estate, will further enable us to offer logistics and energy solutions to our industrial tenants,? said AKR President Director Haryanto Adikoesoemo.

Editing by Reiner Simanjuntak