Central Korporindo to raise coal trade capacity
Friday, January 17 2003 - 03:56 AM WIB
South Kalimantan based coal trader PT Central Korporindo Internasional Tbk. (CNKO) expects to be able to raise its annual trade capacity by 42 percent in 2003 from last year?s.
?Currently, our trade capacity is 112,531 metric tons (MT) annually and we will raise it to 197,508 MT this year?, the company said in a statement to the Jakarta Stock Exchange (JSX) on Thursday.
The company assumes that with the ramping sales by 70 percent and profit margin of 20 percent, it could raise its net profit to Rp 684 million (US$=Rp8,870) in 2003.
CNKO has been questioned by JSX about its 2003 plans following the drastic fall in the company?s share price in the bourse. Currently, CNKO?s share is trading at Rp 5 each. (robert)