JAKARTA, 26th Apr 2018 – PT AKR Corporindo Tbk (IDX ticker code: AKRA.IJ), distributor of Petroleum, Basic chemicals and provider of Logistic & supply chain services in Indonesia reported robust revenue growth of 34% Y/Y from Rp 4,341 bn in 1Q17 to Rp 5,834 bn in 1Q18, with growth seen in both petroleum and basic chemical businesses. AKRA also reported net profit attributable to equity holders of parent entity at Rp 929 bn in 1Q18 compared to Rp258 bn in 1Q17.
In addition to the success of land auction of Khalista’s in Lizhou, China in February 18, we also have completed the sale of one of our coal assets called PT Bumi Karunia Pertiwi (BKP).
President Director of AKRA, Mr. Haryanto Adikoesoemo, stated;
"During 1Q18, AKRA has been continuously strengthening its businesses to grow further in the future. AKRA revenue grew by 34% y/y, supported by increase in average selling price of petroleum and Basic chemicals, also new customers of petroleum. AKRA underwent a change in its asset and investment portfolio during 2017 to gain strong capital structure. Auction of lands belonged to Khalista, AKRA’s unit of sorbitol manufacturing in China, has been successfully held in February 2018. The divestment of Company’s coal business PT Bumi Karunia Pertiwi also has been completed in March 2018. Proceeds of the divestment of both units will be redirected to domestic projects that we expect to generate higher returns in the longer term.”
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