Dec 23, 2010

Duta Graha secures Rp2 trio contracts

Contractor PT Duta Graha Indah Tbk (DGIK), secured Rp2 trillion new contract in the middle of December, making the company’s order book at Rp3.6 trillion as per December 2010.
President Director of Duta Graha Indah, Dudung Purwandi said that the company seized such new contract referring to its contract achievement until Q3/2010 as much as Rp1.14 trillion and Rp851 billion in the Q4/2010.
“The high level of contract achievement during Q4/2010 occurs particularly as the government’s project fund disbursement that commonly reaches its highest level on the last quarter of the year,” he said yesterday.
According to him, the new contracts gained until 2010 were mainly backed by two new contracts amounting Rp442 billion, including two government projects in Sumatra and Jakarta. “Thus, the company’s target over the new contract in 2010 has been fulfilled.”
As per Q3/2010, nearly 70% of the company’s revenue or around Rp637 billion was generated from government’s projects while the remaining Rp273 billion or 30% was derived from private projects. In the other hand, Duta Graha’s revenue on its joint operation totaled Rp1.07 trillion or 58% of this year’s target as much as Rp1.83 trillion.
For Q3/2010, the company whose code stock DGIK, recorded Rp41.4 billion of net income or 55% of this year’s net income target, amounting Rp74 billion.
“The company’s new contract in 2010 rose to Rp2 trillion, compared to 2009’s achievement at Rp1.53 trillion, meaning that we posted 30% rise during 2010,” he said. 

Disclosure: No position at the stock mentioned above.  

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