Oct 15, 2010

Indika eyes 89.9% rise in 2010 profit

PT Indika Energy Tbk (INDY), parent of Indonesia's coal company, eyes a 89.9% jump in earning this year, propelled by robust revenue.
Vice President of Investor Relations Indika Retina Rosabai, in a presentation material during one on one meeting with Daiwa's clients, said the company is estimated to post US$146,6 million net profit from US$77,2 million last year.
Indika's revenue in 2010 is estimated to jump 81.2% to US$479,4 million from US$264,5 million last year.
The company plans to spend US$93 million capex this year, a 126,3% increase from US$41,1 million last year.

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