BOLT absorbs 25% of the CapEx budget of IDR 55 billion
JAKARTA. By the end of the first half of 2021, PT Garuda Metalindo Tbk (BOLT) has used up 25% of its budgeted capital expenditure (CapEx) of IDR 55 billion in total. BOLT had spent those amount to establish a new production plant.
Anthony Wijaya, Director of Garuda Metalindo, confirms that the said CapEx was also utilised in purchasing some updated machines to assist the company in expanding its products.
During the Public Expose Live 2021, Tuesday (7/9), Wijaya claims that with the new factory establishment and upgraded machines, his company is confident in securing the revenue objective of IDR 1.1 trillion in 2021. The company also aims to post a 5%-10% net profit growth by the end of the year.
In order to actualise the said goal, the company would proceed with the strategies implemented previously. They include expanding the market internationally and adding new products. By the end of H1 2021, BOLT scores IDR 22.02 billion in net profit, reviving from the net loss of IDR 10.5 billion suffered in H1 2020. (AM/ZH)