Waskita Karya Tbk (WSKT) decreased their net profit target from 2 trillion IDR to 1.7 trillion IDR this year. The company’s net profit target is trimmed because WSKT will not consider the gain from divesting 40% of their share in Waskita Beton as profit. Waskita Beton’s IPO proceeds will be placed as asset.
M Choliq, The President Director of WSKT, said that earlier this year the company had decided their net profit target to be 2 trillion IDR, with 1.5 trillion IDR from the operating profit and 500 billion IDR from Waskita Beton’s IPO. The value of Waskita Beton’s IPO is predicted to reach 4 trillion IDR and would be posted as equity.
The net profit target of 1.7 trillion IDR came entirely from the operating profit of the company. Last year, the company recorded their net profit of 1 trillion IDR and contract value of 40 trillion IDR. On the first term of 2016, WSKT’s net profit increased by 241.73% to 582 billion IDR, while the new contract of WSKT soared by 360% to 45.6 trillion IDR compared to their first term of 2015.
At the closing of trading on Monday (8/8), WSKT’s share increased by 0.4% to 2.810 IDR. (*)
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