Polychem expects IDR339 billion net profit in 2011

Bisnis.com,30 Mei 2011, 05:02 WIB

JAKARTA: A chemical company PT Polychem Indonesia Tbk expected its net profit would climb nine times higher or IDR339 billion this year, triggered by sales increase and lower factory cost, Kontan reported, citing Corporate Secretary Richard I. Tursadi.The company estimated that its revenue would reach IDR 4.5 trillion or 24% increase from last year.Polychem will disburse US$17.5 million to fund its capital expenditure this year to extend its ethoxylate production capacity. This year, ethoxylate production capacity is 29,000 ton per year. The expansion project is targeted to finish on second quarter.The company also plans to reduce its factory cost, including electricity cost. One of the plans is to produce its own power plant by July, 2011. The company has started to build a power plant since two years ago.The electricity cost was contributed of 10% from its factory cost and would reduce to 8% of its factory cost. (wiw)

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