JAKARTA (Yosefardi) – Pulp producer PT Indah Kiat Pulp & Paper Tbk (INKP) booked net profit of US$50 million in first half of this year, dropped 41.5% from US$86 million in the same period of last year.
Revenues declined 7.3% to US$1.27 billion from previous US$1.77 billion. The company targets its revenues to grow by 5% this year, from US$2.65 billion last year.
Its assets totaled US$6.55 billion while liability amounted US$4.22 billion.
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) booked net profit of US$18 million in first half of this year on net sales of US$638.46 million. Its assets totaled US$1.61 billion while liability reached US$1.75 billion.