Bakrie Telecom's net revenue up 150%
The Jakarta Post, Jakarta
Bakrie Telecom Tbk (BTEL), one of the country's CDMA-based mobile telecommunications providers, booked net revenues of about Rp 254.1 billion (US$27.4 million) in the first half of the year, a 150 percent increase from the Rp 101.8 billion recorded in the first six months of last year.
BTEL, a subsidiary of Bakrie and Brothers, announced Monday that with the sharp increase in the firm's total revenues, it managed to book a net profit of Rp 14.4 billion in the first semester, as compared to a net loss of about Rp 87.4 billion during the same period of last year.
The company attributed the sharp increase in revenues to significant growth in the number of its subscribers, which rose to 1.1 million as of June this year from 249,700 in the same month of 2005, and 486,600 at the end of 2005.
BTEL, which trades its mobile phone service under the name Esia said earlier that it would invest about Rp 1 trillion this year on increase the number of its subscribers to 1.6 million.
Meanwhile, PT Bakrie Sumatera Plantations, another subsidiary of Bakrie and Brothers, said profit more than doubled in the first half as higher prices of rubber and palm oil boosted revenue.
Bakrie Sumatera's net income rose to Rp 80.94 billion ($8.9 million) in the six months to June 30 from Rp 30.97 billion a year earlier, it said in a statement.
Sales climbed 34 percent to Rp 451.8 billion from Rp 336.8 billion, it said.
Profit was also helped by a stronger rupiah, the statement said. The company posted a foreign exchange gain of Rp 28.3 billion in the six months, compared with a Rp 20.9 billion currency loss a year earlier. JP