PT Dharma Samudra expects higher sales

JAKARTA (JP): PT Dharma Samudera Fishing Industries Tbk (DSFI), a seafood processing company, expects a sharp increase in sales this year due a projected surge in export orders, a company executive said on Thursday.

Corporate secretary Eddy Karmin said sales were projected to reach Rp 90.54 billion in the first six months ending in June, more than half of the total sales of Rp 161.46 billion booked in 1999.

He said this year's total sales could reach more than Rp 190 billion because sales in the second semester usually contributed about 60 percent of total sales during the year.

"We hope net profit will increase by 535 percent from Rp 5 billion last year," he told a news conference.

He said the realized net profit for the first quarter totaled Rp 4.5 billion and it was expected to reach Rp 10.79 billion for the first six months of this year.

He attributed the higher sales on the increase in export orders and a rise in fish catches in the country.

He said the company, which operates two major seafood processing facilities in Kendari, Southeast Sulawesi, and in Jakarta, bought fresh fish and other catches from 6,000 fishermen and 200 domestic fishing boats mostly in eastern Indonesian.

"Some of the catches are also bought from Australian fishermen," he added.

The company, which floated its shares on the Jakarta Stock Exchange (JSX) early this year, produces seafood products such as frozen fish fillets, sashimi, stuffed crab claws and cooked lobsters.

The seafood is exported to the United States, Japan and many other countries under brand names Damura and Lucky Doll. (07)