JAKARTA (Yosefardi) – PT Cardig Aero Services Tbk (CASS) has secured loan of US$20.8 million and Rp210 billion from Standard Chartered Bank, to fund its business expansion.
With new loan, CASS’ debt to total Rp415.6 billion.
CASS targets revenue to grow by 20% to Rp1.2 trillion this year while net profit to grow by 25% to Rp110.1 billion. In 2012, the company booked net profit of Rp87.53 billion on revenue of Rp1 trillion. It booked revenue of Rp301.35 billion in first quarter of 2013 and net profit of Rp27.54 billion.
The company also targets to boost contribution of food service segment to 30% from current 21%, while aviation service remain dominates the contribution to total revenue.