Jul 19, 2011

Adhi Karya posts Rp1.8 trio 1H revenue

The state-controlled contractor PT Adhi Karya Tbk (ADHI) is expected to post Rp1.8 trillion revenue in the first half of this year, unchanged from Rp1.86 trillion a year earlier.
Adhi Karya may book a 35.5% increase in operating profit to Rp102.6 billion from Rp75.2 billion. Net profit in 1H 2011 reached Rp21.6 billion.
The company obtained Rp4.1 trillion new projects in the first half of 2011, reflecting a 32.8% from estimated full year of Rp12.5 trillion.
According to Corporate Secretary Kurnadi Gularso, as quoted by Kontan daily today, the new projects were from EPC business in the sector of power plant, oil and gas, and infrastructure.

Disclosure: No position at the stock mentioned above.

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