JAKARTA (Yosefardi) – Motorcycle distributor and financing PT Mitra Pinasthika Mustika Tbk (MPMX) allocates capital expenditure (capex) of Rp2.3 trillion for this year, doubled from Rp1.1 trillion capex last year.
The capex will fund warehouse-2 establishment (Rp100 billion), establishment of dealer for Nissan-Datsun (Rp600 billion), and establishment of automotive component blending facility (Rp200 billion).
The rest capex will be used to add vehicles fleet. MPMX targets its revenues to grow by 20% to Rp16.9 trillion this year. It booked revenues of Rp13.88 trillion last year. While net profit was Rp564 billion, a 39% growth.
In first quarter of this year, MPMX booked net profit of Rp157.49 billion, grew by 22.6% from Rp128.43 billion in the same period of last year. Net revenues rose 12.6% to Rp3.64 trillion from previous Rp3.23 trillion. Cost of revenues also increased 12.2% to Rp3.09 trillion from earlier Rp2.75 trillion.
Its assets grew by 8.8% to Rp12.2 trillion while liability reached Rp7.65 trillion. The company had cash and cash equivalent of Rp1.05 trillion.