Nov 4, 2011

Surya Citra scouts Rp2.4 trio revenue

PT Surya Citra Media Tbk (SCMA), holding company of Surya Citra Televisi (SCTV), is scouting a Rp2.4 trillion revenue next year, reflecting a 20% increase from the target this year of Rp2 trillion.
Commissioner and owner Fofo Sariaatmadja, a younger brother of Eddy Sariaatmadja, owner of PT Elang Mahkota Teknologi Tbk, said economy is estimated to grow 6.4%-6.5% next year, a positive factor driving Surya Citra's revenue in 2012.
"When the economy is growing, consumption is rising. Both factors will drive advertisement industry. As a result, our revenue will increase as well," he said as quoted by Bisnis Indonesia today. Ads contribution to SCMA's consolidated revenue took more than 90%.
At the end of September 2011, the company's revenue reached Rp1.78 trillion, a 25.35% increase from Rp1.42 trillion the same period last year. Net profit was Rp671.15 billion, a 101.22% jump from Rp333.54 billion. 

Disclosure: No position at the stock mentioned above.

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