PGN maintains income forecast<\/p>\n
JAKARTA: PT Perusahaan Gas Negara, Indonesia's state-
\ncontrolled gas distributor, expects profit to grow 15 percent as
\nsales rise and a stronger local currency helps narrow foreign
\nexchange losses, President Director W. Simandjuntak said.<\/p>\n
Net income was Rp 519.45 billion (US$58 million) last year.<\/p>\n
Revenue from gas sales and distribution may rise to Rp 4.3
\ntrillion this year from Rp 3.6 trillion in 2003, Simandjuntak
\ntold reporters today in Jakarta.<\/p>\n
Perusahaan Gas plans to sell as much as Rp 1.5 trillion of
\nseven-year bonds by the end of March to fund the expansion of its
\npipeline network. It's also using an $80 million World Bank loan
\nto build pipelines in the western part of Java province, where
\nindustrial demand for the fuel is increasing.<\/p>\n
In the nine months ended Sept. 30, the state utility's net
\nincome fell 49 percent to Rp 263.9 billion as an increase in
\nforeign exchange losses and debt costs outstripped a 24 percent
\ngain in sales to Rp 3.27 trillion. -- Bloomberg<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/pgn-maintains-income-forecast-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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