JAKARTA (Yosefardi) – Pulp producer PT Indah Kiat Pulp & Paper Tbk (INKP) targets its revenues to grow by 5% this year, from US$2.65 billion last year. It booked net profit of US$221.1 million.
In first quarter of this year, INKP reported net sales of US$637.5 million, declined 4.9% from the same period of last year and reported net profit of US$22.5 million, dropped 52.5% from US$47.4 million in first quarter of 2013, mainly due to foreign exchange loss of US$11.2 million.
INKP allocates capital expenditure (capex) of US$250 million for this year, used to fund maintenance, power plant projects, and machine facility upgrade.
Meanwhile its sister company PT Tjiwi Kimia Tbk (TKIM) will inject US$407 million capital, equivalent Rp4.9 trillion, to PT Oki Pulp & Paper Mills this year.