Humpuss Targets Performance Growth by 25%
JAKARTA–Marine transportation service provider PT Humpuss Intermoda Transportasi Tbk target to boost profit and revenue grow by 25% as the company obtained new carriage contract.
Company’s Finance Director Budi Haryono explained company’s revenue during first seven months this year reached IDR385 billion with operating profit valuing IDR41 billion, swung from loss amounted IDR2 billion.
“We optimist could achieve target this year. In 2014 we expect the performance to increase 30%,” he said, Thursday (9/19).
The company also obtained contract for transportation petrochemicals with a value more than IDR1 trillion, liquefied natural gas (LNG) transportation contract amounted to IDR500 billion and offshore contract reached IDR1 trillion.
The company allocated capital expenditure valuing IDR1 trillion derived from internal cash and bank loan. In the first half this year, the company bought 5 units offshore vessels amounted to US$43 million and 1 petrochemicals vessel worth US$17 million.
As reported earlier, in last 4 years, Humpuss suffered from debt problem that caused company’s performance slowed. As one of debt payment option, the company will conduct debt to equity swap.
The company plan that some 58% or IDR1.4 trillion of total debt worth IDR2.5 trillion will swap to equity with a value that will be decided in the general meeting of shareholders.
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