RUIS books profit increase by 19% during H1
Thursday, August 4 2016 - 09:04 AM WIB
IDX-listed PT Radiant Utama Interinsco Tbk. (RUIS) has reported that during the first half of this year (2016) it managed to book profit at Rp 19.791 billion, an increase of 19 percent compared to Rp 16.618 billion during the same period last year.
But the company announced in a press release issued on Wednesday that its income dropped by 22 percent to Rp 659.416 billion during the first half of this year from Rp 845.034 billion during the same period last year.
The company stated that its commercial strategy is to maintain or extend the existing contracts worth Rp 2.5 trillion, while trying to get new contracts by participating in new tenders conducted during this year.
The company is also monitoring its implementation of ongoing contracts to secure that all are proceeding as expected. Other than that, the company is continually improving its efficiency so that its profit can be maximized.
Until the end of first half this year, the company managed to get new contracts worth Rp 1.2 trillion, which is mostly contributed from contract with ENI Muara Bakau B.V. at the value of Rp 560 billion.
During the second half of this year, the company has targeted to reach an additional income of Rp 1.5 trillion. The company stated that it is based on the factors that it managed to get new contracts worth Rp 1.5 trillion, improve efficiency, which is expected to reduce operational costs by 15 percent compared to that in 2015, and reduce financial burden, as well as cut losses from foreign exchanges.
Editing by Benget Besalicto ST