Indofarma Expects Sales to Grow 30%
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Tuesday, 15 May 2007 19:04:40
StockWatch (Jakarta) - State pharmaceutical company PT Indofarma Tbk (INAF)
has planned to expand the business to biotech products by establishing
partnership with a foreign company.
Indofarma's president Samsul Arifin said during the company's public expose
today (15/5) at the JSX, the company also has planned to renovate the plants
and increase the production capacity for which the company has allocated
capital expenditure (capex) of IDR40 billion in 2007 and most of the capex will
be used for renovation.
Supported by the plans, Indofarma expects sales in 2007 to increase by
approximately 30% at IDR1.33 trillion from IDR1.03 trillion in 2006. "The
government budget for medical expenses rises by 50%, so we have to make a
conservative growth target," he said.
Arifin said the sales increase is expected to reduce costs so the company will
be able to boost the operating profit. He said the pre-tax profit is expected
to hike by approximately 70% this versus last year. (sup/bud)
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