Logindo?s 2013 revenue jumps 73%
Tuesday, April 15 2014 - 02:21 AM WIB
IDX-listed shipping company PT Logindo Samudramakmur Tbk reported on Monday that revenue in 2013 jumped by 73 percent to US$59 million from the previous year level.
It added that net profit surged by 86 percent to $16.5 million.
The company said that the strong financial performance was supported by revenue obtained from the operation of five vessels acquired in 2012, and two large vessels acquired in 2013.
Logindo said that gross margin slightly increased to 51 percent thanks to the expansion of the company?s fleet of medium and large vessels, and as average operating days reached more than 85 percent.
During the first quarter of this year, Logindo acquired one unit of AHTS vessel with a capacity of 8,000 hp. The company plans to acquire another unit of AHTS vessel in the second quarter of 2014.
The company said it plans to spend between US$80-95 million in capital expenditure this year to acquire 4-5 vessels.
Editing by Reiner Simanjuntak