Indonesian Construction Firms Eye Improved Profits in 2010
Yessar Rosendar | March 11, 2010
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State construction companies PT Wijaya Karya, PT Adhi Karya and PT Pembangunan Perumahan, the nation’s top builders, said late on Wednesday that they expected higher revenue and profits this year as the infrastructure and construction sector starts to grow at a robust pace again.
“We expect the company could increase its bottom line up to 30 percent compared to last year,” said Bintang Perbowo, president director of Wijaya Karya (Wika). “While we hope Wika could get an increase in revenue up to 15 percent this year.”
Bintang said improved results would mainly be driven by the increase in the number of infrastructure projects being offered this year, including government contracts and overseas development, particularly in the Middle East.
“I hope we can reach at least 10 percent contract growth as we are looking for several local and international projects,” Bintang said. He added that the company was focusing on winning the contract for to build power plants in Indonesia.
Wika, the country’s leading construction firm, expects to record an increase in net profit of as much as 22 percent in 2009 at Rp 186 billion from Rp 153 billion a year earlier.
Pembangunan Perumahan, the third-biggest construction company, recorded around Rp 163 billion of net profit last year, an increase of around 25 percent compared with the same period in 2008.
Musyanif, PP’s president director, said that his company expected to increase profit by up to 125 percent to around Rp 366 billion this year while recording revenue of Rp 6.3 trillion.
Adhi, the No. 2 building group, recorded unaudited net profit of Rp 150 billion in 2009, a jump of 84 percent from the previous year.
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