JAKARTA (Yosefardi) – Pharmaceutical company PT Kalbe Farma Tbk (KLBF) cuts its capital expenditure (capex) by 33% to Rp1 trillion from Rp1.5 trillion allocated for this year, Bisnis Indonesia reported this morning.
Vidjongtius, KLBF’s finance director, said the company had used part of capex this year for funding expansion of plants.
He said the company plans no investment for plant expansion next year. The company will build 2 milk factories this year with investment cost of Rp350-450 billion.
It also intends to acquire new assets in second half of this year. KLBF targets revenues to grow by 15% to Rp17 trillion and net profit to grow by 18% to Rp2 trillion.