JAKARTA (Yosefardi) – Oil and gas service firm PT Elnusa Tbk (ELSA) is optimistic to book net profit of Rp108.3 billion in first half of this year, grew by 30% from Rp88.2 billion in the same period of last year.
In first quarter of this year, ELSA booked net profit of US$54.1 billion. For the whole year, the company targets to book net profit of Rp185 billion, a 22.3% rise compared to last year’s profit of Rp238 billion.
ELSA, subsidiary of state oil and gas company PT Pertamina recorded revenue of Rp918.2 billion in first quarter of this year, declined 8.1% from Rp1 trillion in the same period of last year.
Service revenue from third parties dropped 39% to Rp366 billion from previous Rp597.3 billion.
By April 2014, ELSA has booked contracts of US$180 million, representing 60% of this year’s target of US$300 million.