JAKARTA: Offshore marine service company PT Wintermar Offshore Marine expects its revenue to grow by 35% to IDR902 billion this year, boosted by increasing revenue contributions from new vessels and vessels charter.
In an information disclosure published today, the company targets to grab around IDR148 billion-IDR153 billion net income, or 40%-45% increase by the end of this year.
The company prepared US$100 million to buy 12 high value fleets this year. Six fleets will come in first half, and the others in second half.
Wintermar Offshore plans to have a joint venture with foreign company and seeks a strategic partner to reap greater fund to fund its expansion.
By the end of this year, the company is eyeing to manage 67 vessels. As per May 31, the company has already had 60 vessels worth IDR1.2 trillion.
Wintermar's revenue in the first quarter this year doubled to IDR224 billion, whilst its profits soared more than two-fold to IDR44.22 billion.
The asset declined 3.06% to IDR2.02 trillion as of March 31, 2011, compared to a year earlier. Short term liabilities reduced by 18.80% to IDR380.42 billion as of March 31, 2011.
The WINS-coded stock remained unchanged at the Indonesia Stock Exchange as of 2.02 p.m. local time. (NOM)
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Source: http://www.bisnis.com/business/25707-wintermar-expects-revenue-climb-by-35-in-2011
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