Perumka targets more profits

JAKARTA (JP): State-owned railway company Perumka expects to book a net profit of Rp 21.9 billion (US$9.4 million) this year, an increase of 23.03 percent on profits of Rp 17.8 billion last year.

Transportation Minister Haryanto Dhanutirto said yesterday his company's total revenue this year was projected to reach Rp 766.5 billion, an increase of around Rp 55 billion on last year.

"We will have to work hard to realize the target," he was quoted by Antara as saying at the opening ceremony of the ministry's coordinating meeting in Bandung, West Java.

The railway company's revenue has increased by an average of 14 percent per year in the last three years. In 1995, its revenue reached Rp 594 billion. Last year, revenue increased by almost 20 percent to Rp 711.5 billion.

Passenger numbers during this period grew by an average of eight percent, there were 144 million passengers in 1995 and 156 million last year. This year, it is estimated passenger numbers will reach 165 million.

Cargo carried by the company also grew by an average of 13 percent per year, from 16 million tons in 1995, to 18 million tons last year. This year, a the company projects it will carry freight of 21 million tons.

"But the most important thing is that Perumka is no longer in the red. Its profits have been increasing during the last few years," he said. (bnt)