Elnusa sees profit to exceed target, boosts 2014 investment by 365 percent
Friday, November 29 2013 - 05:12 AM WIB
IDX-listed oil service provider PT Elnusa Tbk estimated net profit this year to reach 160 billion, surpassing the Rp 138 billion target.
The company said in a statement received Friday that net profit in the nine-month period of this year has already reached Rp 117.8 billion, or a 48 percent increase from Rp 79.5 billion during the same period of last year.
Elnusa aims for the net profit to further increase to Rp 185 billion next year, and revenue to reach Rp 4.9 trillion. The company dubbed 2014 as the year of development following its success with the turnaround program and 2013 as the year of human resources.
The company said that investment spending for next year is projected at Rp 1.2 trillion, or 365 percent jump from the Rp 328 billion investment spending allocated for this year. The investment spending for next year forms part of the total US$398 million investment committment by the company in the next five years as it expands into energy services business with low to medium risk.
The company plans to enter new business areas including new energy and renewable energy sector, power generation, and marine support logistics, all of which seen to have low to medium level of risks.
Editing by Reiner Simanjuntak