The state-controlled pharmaceutical PT Kimia Farma Tbk (KAEF) is scouting Rp3.5 trillion sales this year, a 12.9% increase from Rp3.1 trillion last year. The target is above its budget of Rp3.4 trillion.
There are three factors that will support the company to reach the target, economic growth, the rise of healthy budget from the government, and new product development.
"We estimate that the performance this year will be better than last year, despite dollar depreciation against rupiah," said yesterday.
Disclosure: No position at the stock mentioned above.
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