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Krakatau Steel targets profit at next year

16 November 2017 06:00 PM  Company: PT. Krakatau Steel (Persero) Tbk[KRAS]
Rp. 380  -2 (-0.52%)

JAKARTA - PT Krakatau Steel (Persero) Tbk (KRAS) targets to earn the profit next year by increasing production cost efficiency.

"Our company can actually start earning the profit this year, but the completion of the blast furnace project must be delayed until the first half of next year," said President Director of Krakatau Steel Mas Wigrantoro Roes Setiyadi.

The completion of the project is one of Krakatau Steel's foundations in restructuring the cost of production. The facility makes it possible to save production costs reaching US$ 56-US $ 80 per ton of steel per production. The construction of the facility is expected to produce steel with capacity reaching 1.2 million tons per year.

In addition, Krakatau Steel's revenue increased 5.87 percent to US$ 1.04 billion compared to the same period last year. However, the company recorded a net loss of US $ 75.05 million, down 34.5% over the same period last year with US$ 114.7 million. (HR)

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PT. Krakatau Steel (Persero) Tbk [KRAS]   Rp. 380   -2 (-0.52%)