JAKARTA (Yosefardi) – Oil country tubular goods producer PT Citra Tubindo Tbk (CTBN) booked net profit of US$25.48 million in 2014, fell 33.4% from US$38.26 million in 2013.
Revenues declined 15% to US$207.44 million from previous US$244.17 million. Sales of threading (pipe materials) reached US$119.9 million, down 20% from US$149.7 million in 2013.
CTBN’s customers are Total E&P Indonesie which contributed revenues of US$50.25 million or 24.2% of total revenue, Vallourec Middle East FZE with US$25.2 million revenue contribution (12%).
Other customers, Vallourec Oil & Gas France and Mobil Cepu Ltd contributed revenues of US$11.4 million and US$11.23 million respectively. (rully@yosefardi.biz)