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Ultra Jaya allocates Rp 65 billion of capex for 2019

27 November 2018 16:18

JAKARTA - PT Ultra Jaya Milk Industry & Trading Company Tbk (ULTJ) has prepared a capital expenditure of Rp 65 billion for 2019. This number has increased sharply by 82% compared to the capex this year of Rp 35.7 billion.

"All of the capex for this year has been absorbed in the third quarter of 2018 to buy a new machine," said Muhammad Muthassawar, ULTJ Public Relations General Manager to Kontan.

According to the plan,  the capex in 2019 will be used to complete the existing expansion, replace production machinery as well as build offices. Muthassawar also said that the capex will be used to develop a dairy farming project owned by PT Ultra Sumatera Dairy Farm in Berastagi, North Sumatra.

Until the end of this year, Ultra Jaya targets revenue growth in the range of 13% to 15%. Meanwhile, its net income is expected to grow by 5% to 10%. (LM)

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