Telkom's profit up 14%

Telkom's profit up 14%

JAKARTA (JP): The state-owned domestic telecommunication provider PT Telekomunikasi Indonesia (Telkom) reported over the weekend a net profit of Rp 907 billion (US$389 million) in 1995, up 14 percent from Rp 795 billion in 1994.

Telkom's president, Setyanto P. Santosa, said in Bandung, West Java, that total operating revenues rose 26 percent to Rp 5.1 trillion ($2.2 billion) over the previous year.

Telephone revenues made up 82 percent of the company's total operating revenues, he said.

Telkom, which listed its shares on the New York, London, Jakarta and Surabaya stock exchanges in November 1995, plans to increase capital expenditure to Rp 4.8 trillion rupiah ($2.05 billion) next year for the installation of two million telephone lines.

The company announced that it posted an earning per share of Rp 106.44 in 1995 against Rp 94.59 in 1994.

Telkom also said that its total assets increased by 35 percent to $6.9 billion, while its long-term debts grew 11 percent to $1.7 billion last year and stockholders' equity by 64 percent to $3.2 billion.

He said that his company's growth next year would be primarily supported by "continued domestic demand for telecommunications services and the introduction of joint operation projects for the installation of two million telephone lines by private firms.

Telkom signed 15-year joint operation contracts worth $3 billion last year with five private firms, which include leading overseas telecommunications firms such as Telstra of Australia, NTT of Japan, France Telecom, US West of the United States and Singapore Telecom. (icn)