DGS nets robust earnings<\/p>\n
JAKARTA (JP): Publicly-listed PT Daya Guna Samudera (DGS)
\nfishing company reported yesterday a Rp 43 billion, or 51
\npercent, increase in its net profit to Rp 128 billion (US$37.6
\nmillion) for the first nine months of this year.<\/p>\n
The robust performance, despite the steep depreciation of the
\nrupiah against the U.S. dollar since July, made the export-
\noriented company outstanding among most other publicly-traded
\ncompanies which reported sharp falls in third quarter earnings.<\/p>\n
DGS said in a statement that it booked Rp 402 billion in total
\nsales revenues for the three quarters.<\/p>\n
"We are greatly optimistic about achieving our Rp 530.7
\nbillion sales revenue target for the whole year," the statement
\nsaid.<\/p>\n
The company is a unit of the widely-diversified Djajanti
\nGroup.<\/p>\n
The company said that since its fish and shrimp catches had
\nnot shown any indication of decline, the utilization rate of the
\nmarine resources in its concession areas (mainly in Maluku) was
\nstill much below the maximum sustainable catch.<\/p>\n
"Our procurement of new fishing vessels this year has been
\ngoing on schedule and our strong cash flow will enable us to
\nachieve the target of our fishing fleet expansion program next
\nyear," the company added.<\/p>\n
DGS booked a 154 percent increase in net income last year to
\nRp 116.36 billion and set a net profit target of Rp 157.1 billion
\nfor this year. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/dgs-nets-robust-earnings-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}