05 June 2015
JAKARTA - PT Tifico Fiber Indonesia Tbk (TFCO) crude oil price declines and affects polyester prices.
Director of TFCO, Sugito Budiono 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)