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Videos » Tifico estimates 10% in revenue.
05 June 2015

JAKARTA - PT Tifico Fiber Indonesia Tbk (TFCO) crude oil price declines and affects polyester prices.

Sugito Budiono, Director of TFCO, said, "the company will lessen its targeted revenue by 10% in 2015. Yet, the company expects to keep production at present target levels." In 2014, TFCO recorded a comprehensive loss for the year amounting to US$4.6 million. Meanwhile in 2013, the company recorded a comprehensive loss of US$9.4 million. Company's loss is due to a sluggish market and lower selling prices. (KT)