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Lautan Luas optimistic to reach revenue target this year

23 November 2018 02:35 PM  Company: PT. Lautan Luas Tbk[LTLS]
Rp. 645  -5 (-0.77%)

JAKARTA - PT Lautan Luas Tbk (LTLS) is optimistic that it can meet its revenue target this year. The company's performance has been lifted mainly from the productivity of its manufacturing business.

Head of Corporate Communications of LTLS Ridwan Adipoetra said the company will be able to reach the revenue target of Rp 7 trillion this year. Last year, LTLS recorded revenue of Rp 6.6 trillion.

"There is no projection for next year. We are still concentrating on developing our existing business," Mr Adipoetra told, Thursday (22/11).

In the third quarter of 2018 financial statements, LTLS revenues were recorded at Rp 5.29 trillion, up 7.11% year on year. Revenues are still dominated by the domestic market with a portion of 77.58%, while revenues from foreign markets amount to 22.42%.

Increased income made LTLS net profit also increase. In the third quarter of 2018, LTLS's net profit was recorded at Rp 117.08 billion, up 9.95% from the same period last year of Rp. 106.4 billion.

Mr Adipoetra said one of the causes of the strengthening of LTLS's performance this year is the productivity of the manufacturing division. This happened after the merger of three subsidiaries: PT White Oil Nusantara, PT Metabisulphite Nusantara, and PT Dunia Kimia Jaya, which led to increased productivity. (MS)

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PT. Lautan Luas Tbk [LTLS]   Rp. 645   -5 (-0.77%)